The financial crisis:
how it started – and why it isn’t over yet.
The financial and economic crisis of 2011 has long held the world in its grip. How did it come to be? What were the real origins? Why can’t politicians find a solution? What should we prepare for? Can we hope for a happy end, or is there still worse to come? This uncertainty is aggravated by the failure of politicians to give citizens clear and understandable explanations for the crisis as well as for the advantages and disadvantages of the monetary union and the rationale behind their rescue programmes.
In contrast, this lecture tells the whole story – starting with the origins of the crisis and explaining whether we can expect a happy end and what we need to do to reach it. (It is based on the German book Die Billionen Schuldenbombe – Wie die Krise begann und warum sie noch lange nicht zu Ende ist by Daniel Stelter, Veit Etzold & co-authors, which is currently only available in German.
German speakers might also enjoy Veit Etzold’s 2015 article ‘Die Finanzkrise – eine tragische Komödie’ (‘The Financial Crisis – A Tragic Comedy’).
Finally, you can find out more in the English-language essays ‘The Emperor is naked, parts 1 and 2’ in The European Financial Review.