IMF Official Agrees that Europe’s Troubles are a Result of the Policy Failure by the European Authorities

For Immediate Release: September 29, 2011
Contact: Dan Beeton, 202-239-1460

Washington, D.C. - This debate, which took place last Saturday, September 24, provides a critical overview of the eurozone crisis. It is perhaps most remarkable in that Weisbrot offers a harsh critique of the policies that have been implemented by the International Monetary Fund (IMF) and its partner European authorities (the European Commission and the European Central Bank), and Everaertof the IMF does not offer much disagreement. “I also agree with Mark’s diagnosis of the problem. I think the problem is a policy failure,” Everaert admits at the beginning of his presentation (minute 1:09).

The two economists differ on the solution to the eurozone’s current problems. While Weisbrot proposes that fiscal and monetary policies can be used to stimulate struggling eurozone economies, such as in Greece, Everaert warns of the dangers of inflation. (Minute 10:13).

The debate recording is time-stamped with the main points made by both participants, so that listeners and viewers can move easily to their subjects of interest. The first 30 minutes of the debate are in audio only, with the rest in video:

  • Mark Weisbrot’s presentation (audio)
    (Accompanying PowerPoint presentation here.)

  • Luc Everaert’s presentation (video)

  • Mark Weisbrot responds to Luc Everaert (video)