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SUMMARY:A crisis of financialisation:  Fragmentation of banking and Eurozo
 ne break-up - Costas Lapavitsas\, Professor of Economics\, SOAS
DTSTART:20130123T160000Z
DTEND:20130123T170000Z
UID:TALK42234@talks.cam.ac.uk
CONTACT:Joanna Laver
DESCRIPTION:The Eurozone crisis is part of the crisis of financialisation 
 that began in the USA in 2007. However\, the crisis has taken a particular
  form in Europe because of the role of the euro as international reserve c
 urrency in competition with the dollar. By the same token\, financialisati
 on in the Eurozone has rested on a division between core and periphery gen
 erated by diverging competitiveness. The policies of austerity\, liquidity
  provision\, and bail-out loans do not deal with the underlying causes of 
 the crisis and exacerbate the imbalances of the monetary union. An importa
 nt outcome is increasing fragmentation of banking in the Eurozone pointing
  toward a break up of the monetary union in the future.\n\nCostas Lapavits
 as teaches Economics at the SOAS. He works on the political economy of mon
 ey and finance\, on the history of economic thought and on the Japanese ec
 onomy. He has published widely and his latest books are 'Crisis in the Eur
 ozone' (Verso\, 2012)\, and 'Financialised Capitalism' (Verso\, 2013\, for
 thcoming).\n
LOCATION:Mill Lane Lecture Room 7
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