The Eurozone Recession: Are There Alternatives?

CEPR Co-Director Mark Weisbrot recently debated Mahmood Pradhan, Deputy Director of the IMF’s European Department, on the eurozone crisis and strategies for its resolution. While Pradhan argued for strategies that would lower labor costs, Mark argued that the European authorities, including the European Central Bank, should reverse course, intervene to lower long-term interest rates, and support stimulus programs for economic recovery; and that some governments should consider leaving the euro if the authorities insist on continued austerity and high unemployment. A video of the event is available below or after the jump