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With the European financial crisis spreading from Greece, Spain, Portugal, and Ireland to Italy and France, the fate of the Euro is clearly in the balance. Neither European Union authorities nor the IMF have been able to stem the concern of markets, and the crisis is placing ever-increasing stresses on the political order in Europe. The crisis poses three vital questions for Americans. First, what are its short and long term causes, and to what extent are those causes also present in the United States? Second, what should the U.S. do in response to the European crisis, and how is the crisis likely to develop over the next six to twelve months? Third, what are the likely effects of the crisis on U.S. banks, and the broader American economy? So far, Americans have treated the crisis as a problem that is mostly for Europe. But the U.S. cannot isolate itself from the European economy, which generates about a third of world output and contains several of America’s closest allies. An economic collapse in Europe would undoubtedly have broad economic and political ramifications, and would change the context of the 2012 Presidential contest. Join us as we examine the origins and implications of this unfolding crisis.
More About the Speakers
Ambassador Terry Miller
Director, Center for International Trade and Economics, The Heritage Foundation
J.D. Foster, Ph.D.
Norman B. Ture Senior Fellow in the Economics of Fiscal Policy, The Heritage Foundation
Desmond Lachman, Ph.D.
Resident Fellow, American Enterprise Institute
Theodore R. Bromund, Ph.D.
Senior Research Fellow in Anglo-American Relations