Can the Euro survive?

Operational note: Calling all news and picture desks Tuesday 11th January 2010 The Eurozone in a post-default world an evening with Dr Desmond Lachman

Date: Wednesday 12th January 2011 Time: 17.30 – 19.45 Venue: Legatum Institute, 11 Charles Street, London, W1J 5DW Contact: Iona Debarge on 0207 148 5400 or Iona.Debarge@legatum.com The most likely trigger for the euro’s eventual unraveling will be in the periphery. The Greek, Irish, Portuguese and Spanish governments all have tenuous holds on political power. And as recent events in Ireland seem to be bearing out, a deepening in the periphery’s economic and financial crises could very well result in the ascent of more populist governments, which might be less willing to acquiesce to the hair-shirt austerity programmes dictated by the IMF. What happens then? Can the Euro still survive? What are the likely scenarios for the Eurozone’s immediate future? Should we be getting ready for a chaotic unravelling of the Eurozone, or just for its transformation into a smaller monetary union of more homogeneous countries? Or should we be expecting the core countries to revert to their national currencies? How likely is the emergence of a North-Euro and a South-Euro? Dr Desmond Lachman is a Resident Fellow at the American Enterprise Institute (AEI). Previously, he served as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He also served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Dr Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area, at AEI. ENDS. For media enquires contact Christian May on 02030088147 or Christian@mippr.co

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