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Finance expert says 2008 banking crisis & 2011 sovereign debt crisis are two sides of the same coin

20 Oct 2011

The argument that the 2008 global banking crisis has been transformed into a sovereign debt crisis is now commonplace. But is this entirely true? In what sense are the problems in the Eurozone a sovereign crisis, or the manifestation of lack of sovereignty?

Eminent economist Lord Professor John Eatwell is visiting Australia as a guest of the University of Sydney Business School this week to discuss these questions with local business leaders and examine how the problems can be resolved.

Professor Eatwell's presentation titled "2008- Banking crisis, 2011-Soverign Debt Crisis: Two sides of the same coin" will address the problem of finding a policy framework that has a chance of restoring financial stability, growth and employment in Europe and across the globe.

He will also discuss his widely publicised proposal to establish a World Financial Authority to manage systemic risk in the international financial system.

Professor of Finance at the University of Sydney Business School, Michael McKenzie, says it is an honour to have Professor Eatwell present as a guest of the University.

"In this volatile economic environment, it is invaluable for Australian industry leaders to have access to international economists of the calibre of Professor Eatwell. His important insights into securities regulation, particularly with respect to risk management in financial institutions."

About Lord Professor John Eatwell

John Eatwell is Director of the Cambridge Endowment for Research in Finance, and Professor of Financial Policy in the Judge Business School, University of Cambridge. He was educated at Cambridge and Harvard and has taught economics and finance at Cambridge since 1970. He became President of Queens' College, Cambridge in 1997. He was a board member for the Securities and Futures Authority (SFA), the British regulator, from 1997-2001, and a member of the SFA Regulatory Decisions Committee until 2006.