Moderator: Richard Baldwin (Professor of International Economics, Graduate Institute, Geneva; Director of CEPR; Vox Editor-in-Chief)

The EZ Crisis is a long way from finished. The latest VoxEU eBook presents a consensus view of what caused the Crisis and why. It argues that this was a classic ‘sudden stop’ crisis – not a public-debt crisis. Excessive, cross-border lending and borrowing among EZ members in the pre-Crisis years – much of which ended up in non-traded sectors – was why Greece’s deficit deceit in 2009 could trigger such a massive crisis. The ultimate causes were policy failures that allowed the imbalances to get so large, a lack of institutions to absorb shocks at the EZ level, and poor crisis management.

Moderator: Coen Teulings (Professor of Economics, University of Cambridge; and CEPR Research Fellow)

Moderator: Wouter den Haan (Professor of Economics and Co-Director of the Centre for Macroeconomics, London School of Economics and CEPR Research Fellow)

Moderator: Richard Baldwin (Professor of International Economics, Graduate Institute, Geneva; Director of CEPR; Vox Editor-in-Chief)

Moderator: Giancarlo Corsetti (Professor of Macroeconomics, University of Cambridge and Programme Director, CEPR )

Moderator: Wouter den Haan (Professor of Economics and Co-Director of the Centre for Macroeconomics, London School of Economics and CEPR Research Fellow)