Can Europe be saved?
Nobel laureate Paul Krugman
Can Europe be saved?
Nobel laureate Paul Krugman views negative interest rates in Switzerland as a valuable experiment. However, he opposes the free trade agreement between the EU and the US. "Anyone who’s never wrong isn’t taking enough intellectual risks": Paul Krugman defends his pessimism during the Euro crisis. This interview was conducted by NZZ am Sonntag journalist Sebastian Bräuer in the course of a UBS Center Opinions event on 22 September 2016 in Zurich.
This summary is part of a compilation of speeches delivered by Nobel laureates at UBS Center events. We invite you to explore our Nobel Opinions and find out more about their research, their vision, and their solutions to address some of the most pressing issues of our time.
Nobel laureate Paul Krugman views negative interest rates in Switzerland as a valuable experiment. However, he opposes the free trade agreement between the EU and the US. "Anyone who’s never wrong isn’t taking enough intellectual risks": Paul Krugman defends his pessimism during the Euro crisis. This interview was conducted by NZZ am Sonntag journalist Sebastian Bräuer in the course of a UBS Center Opinions event on 22 September 2016 in Zurich.
This summary is part of a compilation of speeches delivered by Nobel laureates at UBS Center events. We invite you to explore our Nobel Opinions and find out more about their research, their vision, and their solutions to address some of the most pressing issues of our time.
An erosion, not an explosion
Seventy years after Winston Churchill gave his historic address calling for a “United States of Europe” at the University of Zurich, Nobel Laureate Paul Krugman stood at the same podium and delivered a provocative lecture on Europe’s future on September 22, 2016. Krugman’s proposed solution is drastic: an aggressive form of Abenomics combining a massive program of fiscal expansion with an accommodating monetary policy to push inflation up to 3–4% and return the economy to a normal path of growth. But he doubts the political will exists for such radical measures. Instead he foresees continued economic stagnation and political paralysis that will slowly undermine the political and social fabric of the European Union. “I predict an erosion, not an explosion,” he concludes.
Seventy years after Winston Churchill gave his historic address calling for a “United States of Europe” at the University of Zurich, Nobel Laureate Paul Krugman stood at the same podium and delivered a provocative lecture on Europe’s future on September 22, 2016. Krugman’s proposed solution is drastic: an aggressive form of Abenomics combining a massive program of fiscal expansion with an accommodating monetary policy to push inflation up to 3–4% and return the economy to a normal path of growth. But he doubts the political will exists for such radical measures. Instead he foresees continued economic stagnation and political paralysis that will slowly undermine the political and social fabric of the European Union. “I predict an erosion, not an explosion,” he concludes.
Video
How to design the finance of the future
Being a core area of economics, finance related topics are reflected in numerous activities of the Center. Questions on the most diverse aspects of finance are key: What can we learn from past financial crises? What does a fair tax system look like? What does the financial system of the future look like? How can we keep Swiss finance in play? How do we deal with sovereign debt?
Being a core area of economics, finance related topics are reflected in numerous activities of the Center. Questions on the most diverse aspects of finance are key: What can we learn from past financial crises? What does a fair tax system look like? What does the financial system of the future look like? How can we keep Swiss finance in play? How do we deal with sovereign debt?
UBS Nobel Perspectives
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in Economic Sciences to ask them to share insights, discuss their research, and open their inquiring minds.
Krugman addresses the divisive debate between austerity and deficit and discusses whether there can be a policy that is fair to everyone.
Explore various videos with Paul Krugman.
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in Economic Sciences to ask them to share insights, discuss their research, and open their inquiring minds.
Krugman addresses the divisive debate between austerity and deficit and discusses whether there can be a policy that is fair to everyone.
