EU Fiscal Austerity Measures

EU Fiscal Austerity Measures

Whereas monetary policy in Europe leaned significantly in the direction of largesse, fiscal policy was more tightly constrained. In this video, Trevor explains these fiscal constraints and analyses the causes and effects of these policies.
Overview

The emphasis on fiscal austerity and tight monetary policy had been undertaken on behalf of the creditor, to protect against their mistakes in lending. This caused an economic stranglehold, nearly continuously since July 2007, curtailing economic growth and placing banks in a fragile condition.

Key learning objectives:

  • What were the fiscal constraints imposed on European countries?

  • Identify the views of creditors and debtors on the austerity measures

  • What was the impact of austerity?

  • Who was to blame?

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Summary
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Expert
Trevor Pugh

Trevor Pugh

Trevor has worked in finance since 1995. He started his career in investment banking after studying Law at Cambridge and taking a Masters Degree in Financial Services from University College Dublin. Trevor spent 18 years at Barclays investment bank where he became a Managing Director and head of Gilt trading. He currently works as Chief Operating Officer for a hedge fund.

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