As chief economic adviser to President Bush, Edward Lazear was at the heart of the US policy machine in October 2008. He talks to Romesh Vaitilingam about the Eurozone crisis and whether now might be Europe’s Lehman moment. They also discuss the growing significance of the emerging economies and the US political debate about the debt ceiling. The interview was recorded at the Global Economic Symposium in Kiel, Germany, in early October 2011. [Also read the transcript.]