Eurozone: Towards common economic governance
Edouard Francois de Lencquesaing – Managing Director, European Institute of Financial Regulation
Europe is torn by a great financial turmoil. The situation is getting worse every day, as Greece is trying hard to trim its huge public debt by cutting social spending, leading to strikes and demonstrations in Athens. Spain’s rating has been downgraded, and the prognosis is negative for Madrid. The eurozone’s healthier economies are pressed to prop up their weaker neighbors. Some people have started saying the Wall Street sharks initiated the crisis to weaken the rival European currency. So will multibillion bailout loans save the European economy? And do all the strings really lead to Wall Street?
We ask the head of the think tank created especially to help overcome the global crisis – the European Institute of Financial Regulation – Edouard de Lencquesaing.