The Euro area sovereign debt and banking sector crisis poses a major threat to global economic growth and financial stability. The process of economic and financial integration in the European Union also provides an important benchmark for similar processes in Asia, although the latter are still at a much earlier stage, so it is important to understand the lessons, both positive and negative, from the EU integration process. Also, it is important to identify potential major systemic risks to Asian economic and financial stability emanating from the crisis, and what steps, including regional cooperation, can be taken to minimize the potential impact of those risks.
It is important to get the views of European and Asian analysts and policy makers on how they see that crisis. What does this imply for the evolution of regional financial architecture in both the EU and Asia? The seminar will focus on both the implications of recent developments in the Euro area and current and likely developments of regional cooperation in Asia.
The objective of the seminar is to provide further insight on the factors underlying the Eurozone crisis, policy suggestions for ending the crisis, and the implications of the crisis for economic and financial stability in Asia.
Presentation materials, paper on implications of the Eurozone crisis, and seminar report.
Academics, government officials, representatives of international organizations, and practitioners in addition to ADBI staff.