Host: Richard Werly
Date: 27 October 2011
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The following is a digest of the webinar discussions held on Thursday, 27th October, 2011, with our host Richard Werly.
The Eurozone now seems decided to put its acts together
This is the main conclusion one can draw following the 26th October summit. Contrary to what happened on 21 July, the European plan is now global, covering all aspects of the Euro crisis: new restructuration of the Greek debt, recapitalisation of the banks, strengthening of the EFSF, and new measures to beef up the Eurozone economic governance.
It does not mean these measures will be sufficient. As we have seen in July, financial markets will judge only after taking a closer view and after analysing the European plan. Nevertheless, some positive elements are here to stay:
The Eurozone challenges now lie with the implementation of the plan
This is no surprise: the devil, once again, will be found in the details. We can expect reactions on various fronts:
There is a need – more than ever – to re-contextualise this Euro crisis and the Eurozone response
Judging the Eurozone by its past failures to address the Euro crisis is not satisfactory.
Europe will have to confront several major issues, while trying to put down the fire from the Euro crisis
Questions? Post a comment below, or e-mail Richard Werly at email@example.com