On Wednesday 24 October, from 7 p.m. to 8.30 p.m., the Eleventh European Economy Lecture will take place in Room E (Dijver). The speaker this year is Mr Daniel GROS, Director of the Centre for European Policy Studies (CEPS) in Brussels. He will speak on 'the Euro Area Banking Union: open issues'.
Students and staff from all departments are welcome. The speech will be followed by a Q&A session.
'The Euro Area Banking Union: Open Issues'
The Eurozone financial crisis, which began as a debt crisis, and struck countries like Greece and their populations very hard, has now grown into a banking crisis, causing severe damage in among others Ireland, Cyprus and Spain. Mr Daniel GROS argues that the banking problems in Spain are symptomatic of more problems to come and that EU Summit decisions on banking union should be taken urgently in order to secure long-term solutions. However, the main question today is: who will pay for the Spanish bank losses? The Spanish political class is shielding the Spanish creditors, the European political establishment is safeguarding the EU taxpayers. So, in the end, it will be the Spanish Government who will pay the bill. In doing so, Spain may go the way of Ireland. This banking crisis is far from over!