On Wednesday 11 July, BNG together with FIPRA organised a Lunch&Learn session on the euro crisis. Guest speaker was Dirk Hudig, the Head of Office from FIPRA.
Dirk started his presentation by explaining that there is not a single crisis in Europe, but there are three crises. In Europe, we are facing a sovereign debt crisis, a banking crisis and a euro crisis. In a very accessible way he explained how the crisis started in the US with the subprime crisis and what the implications were in Europe. When the housing bubble burst, the banks got in trouble and governments needed to help the banks. This in turn led to an increase of sovereign debt. He then explained the (opposing) views of the two schools of thought on how to solve this crisis.
He spoke about the importance of the banking sector in Europe and compared it to the situation in the US. He touched upon youth unemployment. After his presentation there was much interest from the audience and a lively discussion took place. There were questions about Eurobonds, Credit Rating Agencies and much more!
Thanks to FIPRA for hosting the event!
The BNG team