THE ROLE for the EU in the FINANCIAL-ECONOMIC CRISIS

January 14, 2010 a gathering was arranged due to a study of the role for the EU in the financial economic crisis.

Support and shield or try-your-strength machine? The financial economic crisis has drawn a bill on cooperation within the EU. How has the EU react on the crisis? What lessons learned? What to do to prevent a next crisis? A short explanation was given on the role of the EU, whose role has been under exposed.

If EU's budget was not as small, it could have been a solution to solve the crisis faster. Now we are in the era of the 4th generation of financial regulations. The role Europe had to fulfil, has been fulfilled in silence. With a scenario of 1% of GDP, it will take till 2028 to achieve budgets of reasonable level again. But taken into account are also political and constitutional obstacles. We have to have a credible exit strategy. On the one hand due to the exchange rate of the euro and on the other due to avoid risk of inflation.

In relation to mentioned measures of prevention the importance of De Larosière report was also stressed.

A proposal: establishing a fund for high risk countries.

Exit strategy is a mainpoint