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EU’s Crucial Month
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Description
Adolfo Laurenti, Mesirow Financial deputy chief economist, on the continuing debt crisis in Europe.
- Duration 3:50
- Date Aug 30, 2012
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Transcript
This transcript is automatically generated
Of the fifth straight month.
Can the EU do anything to save this sinking ship adopt -- and T is the deputy chief economist at measure of financial in Chicago.
He's got a few ideas thanks for joining us.
Without -- million irate so we've got all is bad news coming out economic confidence filing today we've got more bad news German unemployment -- rising for a fifth straight month.
How could this from legal unlike.
Well these has been going on for quite some time -- I'm -- we we continue to see these unfolding crises.
And you would see some tour need their sheep coming from the you'll be imported vehicle -- -- yes I've been arguing these what a widely -- -- -- bawdy peaks.
That you really need that flux and very and keep in mind what to do gold will be set at four to two to improve this situation should be.
A doubling W mention that it's the leadership that it's gonna take you know money -- got German Chancellor Angela Merkel screaming austerity and then you got.
The French president fronts while Hogan's saying look you know -- -- -- -- to spending more.
Where do you fall into this picture austerity or spend our way out -- and that we haven't.
What nobody likes so -- anything but ditty I think he's -- -- -- no money to spend this still in the mentality but they think you may be with that French presidential Rhonda.
That's it really true -- that -- not to be taken.
I think America -- that I thank -- could be a European counties need to -- -- But they also need to structural reform -- they needed to become local -- to -- they needed to move toward a more flexible or Libor market.
They need it wouldn't think that taxation -- them didn't really need that to reduce their red tape before -- -- -- -- They needed to have to go back would grow by between -- -- -- at the old continent to move before the war.
RA so there's this idea being floated that -- floated of a universal bond and critics -- do you like this idea adopt them.
If the big corn is going toward greater -- -- -- -- shown across European counties.
I think NBC universal belonged to we let eventually common we'd -- -- broad.
The point is how we get -- -- I don't think it -- should be seen as a way to transfer money.
Trauma juror money to do in that total count of using the -- -- -- -- over the continent.
These can only get beneath it goes a southern counties that Spain if you value goodies we continue to reform and we -- have become a cragey born.
In going back on the growth box and then I think that the for that these -- Gordon that can be.
The universal bond can be eight to -- to -- that Germany we'd be willing to concede to because now.
Everyone would be on the same -- to end it would be got divorced and not a justice PDT.
On the table.
And and -- -- do you think they have -- in -- the make this work.
Well I think of that did -- -- and -- that we are seeing alta view opening backed security out of the juror money.
Should the coal bed the Germans to understand that that -- in the database in -- this -- and to rescue did you go ahead of the other -- -- but of course it's opted to Greece eat that he's been -- to go.
To be credit boarding doing that the structural reform -- they still added that he needed so.
I think it did include common ground over there but they need to take -- -- Our bread double we have to leave it there we have two seconds the -- speaking tomorrow any big expectation from you out of that.
Not -- -- -- -- that the chairman Bernanke we'd probably continue to keep the option to solve the QE beyond the people but I do not expect an announcement in that sense tomorrow.
All right that's the word the -- -- renting thank you so much for joining us.
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