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Resolving the European debt crisis

On September 13-14, the Brussels-based think tank BRUEGEL and the Peterson Institute for International Economics hosted a conference on Resolving the European Debt Crisis close to Paris. The conference assembled about four dozen policy experts and practitioners, mainly from Europe and the United States. The conference was designed to contribute to a better understanding of the implications of alternative approaches to resolving the crisis, in particular, the dynamics of interaction among various stakeholder groups as policy decisions evolve. The first day was in the format of a typical closed workshop with presentations and discussions. On the second day, a simulation game took place among the conference participants in what amounted to a stress-test for European debt policy. As the simulation unfolded, a powerful solution to fend-off speculative attacks was found.

Event materials

Conference participants and papers by discussion topic

Country Political-Economic Environments

  • Greece – Loukas Tsoukalis (University of Athens) here
  • Ireland – Alan Ahearne (National University of Ireland, Galway) here
  • Portugal – Pedro Lourtie (former Portuguese Secretary of State for European Affairs) here
  • Italy – Riccardo Perissich (Council of the United States and Italy)
  • Spain – Guillermo de la Dehesa (Centre for Economic Policy Research) here
  • France – Zaki Laidi (SciencesPo) here
  • Germany – Daniela Schwarzer (Stiftung Wissenschaft und Politik, SWP) here

Lessons from Past Restructuring Experience

  • Economic – Jeromin Zettelmeyer (European Bank for Reconstruction and Development)
  • Legal - Lee Buchheit (Cleary Gottlieb) here

Pros and Cons of Alternative Policy Options

  • William R. Cline (Peterson Institute for International Economics) here
  • Guntram Wolff (Bruegel) here

Luncheon Speech

  • George Soros (Soros Fund Management)