Podcast

Debt resolution: moving on after the crisis

An excess of indebtedness is constraining economic growth in many economies. Indeed, the deleveraging since the financial crisis is exceptionally slow. Why is this the case, and what can be done about it?

By: Date: November 8, 2016 Finance & Financial Regulation Tags & Topics

In this episode of The Sound of Economics, we discuss the issue of indebtedness and debt resolution with Carmen Reinhart, Professor of the International Financial System at the Harvard Kennedy School.

Professor Reinhart highlights the scale of the debt overhang in many advanced economies. She also presents evidence that deleveraging has been notably slow since the last global financial crisis.

She discusses how this overhang is affecting the speed of recovery, and calls for debt restructuring – especially in the private sector.

We also hear from Bruegel Research Fellow Maria Demertzis, who explains the significance of non-performing loans and argues for simplified bankruptcy laws.

Speakers:

Carmen Reinhart, Professor of the international financial system, Harvard Kennedy School

Maria Demertzis, Research Fellow, Bruegel

CREDITS

Presented by Giuseppe Porcaro

Produced by Vanessa Cotterell and Giuseppe Porcaro

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Podcast

Podcast

Decarbonisation and climate change: looking ahead

Decarbonisation plays a crucial role in the fight against climate change. What progress has been made so far, and what are the challenges ahead?

By: Bruegel Topic: Energy & Climate Date: November 8, 2016
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Podcast

Podcast

Unlocking the potential of innovation

Innovation is a hot topic in Europe. But how can its potential be used to the fullest, and what are the challenges in doing that?

By: Bruegel Topic: Innovation & Competition Policy Date: November 8, 2016
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Podcast

Podcast

Brexit: the way forward

There is still huge uncertainty about the future of EU-UK relations. What will Brexit mean for politics and business, and is there any scope for flexibility in the EU’s fundamental freedoms? We gather experts from Bruegel and the Financial Times to debate the issues.

By: Bruegel Topic: European Macroeconomics & Governance Date: November 8, 2016
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Podcast

Podcast

Opportunities and challenges for EU-China trade relations

How can trade relations between the EU and China be strengthened? How can the current situation be improved, and what are the potential challenges to do that?

By: Bruegel Topic: Global Economics & Governance Date: November 8, 2016
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Podcast

Podcast

Inclusive growth and inequality in Europe

Many Europeans have felt the effects of inequality due to the economic and financial crisis and stagnation. How can inequalities be tackled and which policies can support inclusive growth?

By: Bruegel Topic: European Macroeconomics & Governance Date: November 8, 2016
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Podcast

The future of Europe

Europe is at a crossroads. What must European leaders do to combat populism, the refugee crisis, and low growth?

By: Bruegel Topic: European Macroeconomics & Governance, Global Economics & Governance Date: September 7, 2016
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Podcast

Podcast

What can the eurozone learn from US monetary history?

Many in the EU look to the USA as a model for monetary union in the Eurozone. But how easy was it to create such a union, and what can Europe learn from the USA’s experience?

By: Bruegel Topic: Global Economics & Governance Date: August 12, 2016
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Past Event

Past Event

Does the euro area need a sovereign insolvency mechanism?

The sovereign debt crisis shook the Euro to its foundations. It soon became clear that there was no mechanism to allow a tidy insolvency of a state wishing to remain inside the euro area. To face future crises, does the EU need a sovereign insolvency mechanism?

Speakers: Jochen Andritzky, Lars Feld, Zsolt Darvas and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: July 12, 2016
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Podcast

Podcast

Brexit: what happens next

On 23 June, the UK voted to leave the European Union. What will the UK’s new relationship with the EU look like?

By: Bruegel Topic: European Macroeconomics & Governance Date: June 24, 2016
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Podcast

Podcast

European fiscal rules

The current European fiscal framework is inefficient and relies on indicators that are badly estimated. How can the rules be improved and what can a European fiscal council add to this?

By: Bruegel Topic: European Macroeconomics & Governance Date: June 15, 2016
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Policy Contribution

WhIch fiscal union for the euro area?

Which fiscal union for the euro area?

At the current level of political and societal integration, a large federal budget is unrealistic in the euro area. The authors make three recommendations that would lead national fiscal policies to be more stabilising with respect to the economic cycle, while achieving long-term sustainability. They also recommend a move towards a European unemployment insurance scheme targeted at ‘large’ shocks, and a minimum set of labour-market harmonisation criteria.

By: Agnès Bénassy-Quéré, Xavier Ragot and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: February 18, 2016
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Working Paper

Internationalising the currency while leveraging massively: the case of China

Internationalising the currency while leveraging massively: the case of China

This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account liberalisation and internationalisation of the use of the renminbi.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: October 29, 2015
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