What happens if the Euro falls? An update on the Euro Crisis by Carsten Brzeski, Senior Economist ING

What will happen if the Euro falls? Any type of Euro break up would be chaotic causing pandemonium on global markets. Senior Economist at ING, Carsten Brzeski,  gave us his forecast on the current state of the euro crisis and its potential further implications on global markets.

Please see below the following points that were highlighted during the event:

  • 2010 was a good year, however 2011 saw a slow down in Chinese and European markets
  • The economic slow down is troublesome for South European states who need to regain competiteveness when faced with high unit labour costs
  • Markets have somewhat calmed down due to more confidence in the markets further supported by a type of euro crisis “fatigue”
  • Forecast for Greece is not good, further bailouts will result in more loss of Greek Sovereignty. The private sector is too “dry”, and so therefore more cuts would have to be made to the public sector
  • 2012 will see further weakening of China’s economy alongside a more fragile Europe

Many thanks to ING for sponsoring the event.

Topic of the discussion: What happens if the Euro falls? An update on the Euro Crisis by Carsten Brzeski, Senior Economist ING

Speaker: Carsten Brzeski, Senior Economist ING

Tuesday, 28 February 2012

Petra

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