Upcoming Event

Sep
28
12:30

Unfinished business: The unexplored causes of the financial crisis and the lessons yet to be learned

At this event Tamim Bayoumi will present his upcoming book on the financial crisis, showing how how the Euro crisis and U.S. housing crash were, in fact, parasitically intertwined.

September 28, 2017, 12:30 pm Bruegel, Rue de la Charité 33, 1210 Brussels Public | On the Record Livestreamed Topic: European Macroeconomics & Governance

This event will feature a presentation by Tamim Bayoumi (IMF) of his upcoming book on the financial crisis. His presentation will be followed by comments by Aerdt Houben (De Nederlandse Bank).

Tamim Bayomi’s book: Unfinished Business: The Unexplored Causes of the Financial Crisis and the Lessons Yet to Be Learned book traces how under-regulated trading between European and U.S. banks led to the 2008 financial crisis–with a prescription for preventing another meltdown. He shows how the Euro crisis and U.S. housing crash were, in fact, parasitically intertwined.

Starting in the 1980s, Bayoumi outlines the cumulative policy errors that undermined the stability of both the European and U.S. financial sectors, highlighting the catalytic role played by European mega banks that exploited lax regulation to expand into the U.S. market and financed unsustainable bubbles on both continents. U.S. banks increasingly sold sub-par loans to under-regulated European and U.S. shadow banks and, when the bubbles burst, the losses whipsawed back to the core of the European banking system. A much-needed, fresh look at the origins of the crisis, Bayoumi’s analysis concludes that policy makers are ignorant of what still needs to be done both to complete the cleanup and to prevent future crises.

This event will be livestreamed on this page starting at 13:00 CET. There is no need to register to watch the livestream.

Registrations for this event are not yet open to the public.

Schedule

Sep 28, 2017

12:30-13:00

Check-in and lunch

13:00-13:30

Presentation

Tamim Bayoumi, Deputy director, strategy, policy, and review department, IMF

13:30-13:45

Comments

Aerdt Houben, Director Financial Markets, De Nederlandse Bank and professor, University of Amsterdam

13:45-14:30

Audience Q&A

14:30

End

Speakers

Tamim Bayoumi

Deputy director, strategy, policy, and review department, IMF

Maria Demertzis

Deputy Director

Aerdt Houben

Director Financial Markets, De Nederlandse Bank and professor, University of Amsterdam

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Matilda Sevon

matilda.sevon@bruegel.org

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