This month marks the 10-year anniversary of the Lehman Brothers collapse, the prelude to the worst global financial crisis since 1929. As we pass that mark, we are also approaching the 20-year anniversary of the launch of the Euro. And when the retrospective assessments of the Euro’s first two decades are written, they will all be set in the context of the economic disaster that followed the Lehman collapse.
What Has the Eurozone Learned from the Financial Crisis?
The European Central Bank isn’t ready for the next one.
September 28, 2018
Summary.
This month marks the 10-year anniversary of the Lehman Brothers collapse, the prelude to the worst global financial crisis since 1929. As we pass that mark, we are also approaching the 20-year anniversary of the launch of the Euro. And when the retrospective assessments of the Euro’s first two decades are written, they will all be set in the context of the economic disaster that followed the Lehman collapse. How could a crisis that started in the U.S. have caused so much damage in Europe? Central bank choices, fiscal policy, and politics all played a role.