The history of the European Monetary Union (EMU) is characterized by a permanent breach of rules. Already at the start, the Maastricht criteria were only met by three of the eleven founding members. The political reaction to the Greek, Irish and Portuguese problems consisted of measures, e.g. bail outs, purchases of public bonds by the European Central Bank (ECB), which were considered prohibited in the rules. In September 2014, the ECB reduced the repo rate to 0.05 per cent â€“ an all-time low. The talk asks whether this policy is economically justified or whether it rather is a sign of increasing risk taking of monetary policymakers with very limited chances of success.
Prof Dr Andreas Freytag, Professor of Economics at the Friedrich-Schiller-University Jena and Honorary Professor at the University of Stellenbosch
- Wednesday, 15 October 2014
- 12:15 p.m. - 1:30 p.m.
Seminar Room 3-4,
Lee Kuan Yew School of Public Policy,
469C Bukit Timah Road,
- Seats are limited and will be available on a first-come, first-served basis. Kindly register your interest in attending online.