Bob Barone & Jerry O’Driscoll
The Euro-Crisis and the Implications for the US Economy
Tuesday, July 17, The Ramada, 9:00 am
Europe is in crisis, at least the southern tier countries. There are critical questions regarding the viability of the Euro as well as the economies of countries like Greece, Italy, Spain, and Portugal—and perhaps France as well. Several measures have been taken to save failing banks, but it is uncertain whether this will be sufficient to stave off financial collapse. While Northern European countries like Germany and Sweden are doing OK, we do not know how exposed their banks are to debts of other countries. It is also uncertain if the Euro itself will survive.
European leaders recently agreed on a $120 billion Euro “growth pact”, short-term measures to assist Spain and Italy, and a longer-term roadmap to reshape the 17-nation Eurozone. There will ostensibly be a 500-billion-Euro bailout fund that will come into force next month, under the supervision of the European Central Bank. Both Barone and O’Driscoll are skeptical that these measures are much more than a band-aid on a deep economic crisis that will soon impact the US economy. They are doubtful that the bank bailouts will work, that the Euro can survive, and that north European—particularly Germans—will continue to allow their countries to serve as ATMs for the free spending nations of the south.
But in the south, the question remains whether the populace will revolt against austerity measures being imposed upon them? And, finally, what are implications of the European crisis for the US economy?
Please join Dr. Bob Barone and Dr. Jerry O’Driscoll for this timely and critical discussion. Bob holds a PhD from Georgetown, is a registered investment advisor, and is currently a Director on a number of Boards, including AAA Insurance Co. Jerry is a Senior fellow at the CATO Institute in Washington and a frequent contributor to the Wall St. Journal and other publications on economic issues.
Attendees are encouraged to arrive by 8:30 to enjoy pre-meeting coffee and conversations. A full breakfast will be served and the cost is $15 ($10 for students with I.D.), payable at the door.
Please RSVP (attendees only!) through the NSF website (CLICK HERE), by email (twcobb@aol.com), or by phone (775) 746-3222.
