Roundtable on the European Debt Problem

On July 27, the Institute of European Studies (IES) joined hands with the Institute of Finance and Banking (IFB) to organize a roundtable to discuss the current debt problem/crisis in Europe. Scholars from both institutions presented their views on the causes of the problem, its repercussions on the world economy and the future of the European economic development.

Prof. Li Yang, Vice President of CASS, and former director of IFB also attended the meeting and offered his views towards the sovereign debt problem/crisis in Europe. He believed that we should not simply look at the crisis in purely economic terms. Rather, it is important to view the current European economic problem in historical and political perspectives.

Li Yang also said that academic cooperation between different CASS institutions should be encouraged.

While some say that Europe is caught up in a very grave crisis, others tend to say that only Greece has fallen into a crisis, and other nations in the so-called PIGS group are not yet in a crisis.  As a result, it is not proper to call the current debt problem a crisis.