Italy is now the next European challenge in the rollover effects of the economic crisis. An arduous clash is presently in motion between the friends of limiting debt and deficit and those claiming that more fiscal stimulus (and a widening debt and deficit) is needed. As important as the debate may appear, it just focuses on covering the symptoms of the crisis and not the underlying trends that are leading several of Europe’s economies to a crash. Unreported and mismanaged is the systematic destruction of Member States’ Governments’ balance sheets and thus public wealth. The consequences are a serious threat to society and by association the stability of the Eurozone.
In this event, we launch our study on the hidden cost of the balance sheet erosion, as well as the necessary steps to correct course. While the challenges are important, reforms in public financial management have the potential to create the much needed stimulus to the economy and to bring governance to a level fit for the 21st century.
End of meeting: 12:00h