Fianancial crisis 10 yaers on: Has the response to the 2008 crisis laid the foundations for the next?
The 15 September marks the tenth anniversary of the collapse of Lehman Brothers. The implosion of Lehman was the first major milestone of the North Atlantic financial crises, which also spilled over to the global south. Hundreds of millions of citizens were ultimately affected.
Since 2008, IFIs, the G20, governments, and central banks embarked on a reform agenda that was supposed to fix the old crises and prevent the next. Measures ranged from bank bailouts and quantitative easing to partial financial sector reform. While the impact of the old crisis is still being felt, there are already signs of the next. At the same time, the pace of financialization of the global economy keeps increasing, under the added pressure of wide-scale promotion of large infrastructure investments and related public-private partnerships.
Where are we in this reform process? What business remains unfinished? Were the correct measures taken? Did governments just inflate new bubbles that have the potential to burst into new crises? What suggestions do academia and CSOs have for policy- and decision-makers?
Speakers include: Manuel Montes (South Centre); Tam Bayoumi (IMF); Eric LeCompte (Jubilee USA); Bodo Ellmers (Eurodad)
Side Event at the Spings Meetings: 19 April 2018, from 2pm-3.30pm in IMF HQ2 03B-838B