Challenges of the Euro Crisis
Professor Klaus Zimmermann, Professor of Economics at the University of Bonn and Director, Institute for the Study of Labor, IZA
Co-presented with the School of Economics in the Faculty of Arts and Social Sciences
Old Europe faces a number of strong challenges: rising fiscal instability, a large inflation potential, immobile labor markets, large and rising unemployment rates, unequal job opportunities, and beyond, the upcoming demographic pressures of ageing and declining populations. 27 governments fail to agree on adequate responsive actions. A more centralized European government, stricter rules or a breakdown of the European idea are possible outcomes of the process. The talk will make the developments transparent and discuss true and false solutions including eurobonds, bank union, tax breaks, labor mobility, vocational training and migration policy.
Professor Klaus Zimmermann is founder and Director of IZA, the Germany - based Institute for the Study of Labor (IZA) that operates an international network of about 1,200 economists and researchers spanning across more than 45 countries in the world. He is Professor at Bonn University and Honorary Professor at the Free University of Berlin and at the Renmin University of China, Beijing. He has held prestigious academic positions in Germany, Belgium, the United States, Canada and Japan. Publishing in key academic journals, he has been recently ranked by RePEc top 0.4% among more than 32,000 economists worldwide. He is a regular advisor of the Worlbank, the EU commission and various governments around the world, and publishes opinion pieces in media like New York Times, International Herald Tribune, Financial Times, Wall Street Journal, China Daily, Financial Express (India), Singapore Business Times, and Australian Financial Review. His special research interests are on labor policies, migration and European integration. Zimmermann is one of the key European economists commentating on these global issues.