A Concise Introduction to Policy Responses to Europe’s fundamental economic challenges

Miguel Costa Matos

This short essay was written as my submission towards the 1989 Generation Initiative, which will take place in London on the 26th June. I will be participating in the Economic Affairs roundtable alongside Nobel economist Christopher Pissarides, author and former economic adviser to the EU Philippe Legrain and others.

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In this essay, I will discuss what economic policy reforms the EU should prioritise to respond to its fundamental economic challenges. I believe these two fundamental challenges to be the crisis of secular stagnation (de Grauwe, Summers) and the crisis of public finances.

The latter crisis involves two sub-challenges. The first is to deal with debt legacy. When the crisis started, total Eurozone debt stood at 80%. At the end of 2013, it was 95% and 5 countries have debt over 100%. As Paris and Wyplosz note in their MADRE plan, this means that the sovereign debt crisis…

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About Damian Merciar
Damian Merciar is Managing Director of Merciar Business Consulting, http://www.merciar.com, a niche business economics consultancy founded in 1998. He has over twenty years experience in the areas of commercial Business Strategy. He is experienced in the transition environments of nationalized to private sector state utilities and the senior practice of commercial management, advisorial consultancy, and implementation. He has carried out policy advisory work for government ministries and been an adviser to institutional bodies proposing changes to government. He holds an MSc Economics from the University of Surrey’s leading Economics department and an MBA from the University of Kent. Also attending the leading University in the Middle East, studying International Relations and Language, for which he won a competitive international scholarship, and has a BA (Hons) in Economic History and Political Economy from the University of Portsmouth. He is currently based in London.

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