The Eurozone debt crisis and the United States

Article Highlights

  • The Euro-zone crisis will only intensify in the months ahead

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  • How will the Euro crisis affect the US? Desmond Lachman testifies @HFACRepublicans

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  • Why the efforts of European leaders will fall short in solving the crisis

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Read the full testimony as an Adobe Acrobat PDF

Thank you Chairman Shaheen, Ranking Member Barrasso, and members of the Subcommittee for affording me the great honor of testifying before you today. My name is Desmond Lachman and I am a Resident Fellow at the American Enterprise Institute. I am here in my personal capacity and I am not here to represent the AEI’s view.

In the testimony that follows I set out the reasons why I think that there will be a further significant intensification of the Euro-zone debt crisis in the months immediately ahead. I also lay out the reasons why I think that the efforts currently underway by European policymakers to address this crisis will fall short of what might be needed to resolve this crisis in an orderly fashion. Finally, I attempt to draw out the serious risks that the Eurozone crisis poses to the US economic recovery.

Desmond Lachman is a resident fellow at AEI

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About the Author

 

Desmond
Lachman
  • Desmond Lachman joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Mr. Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area. At AEI, Mr. Lachman is focused on the global macroeconomy, global currency issues, and the multilateral lending agencies.
  • Phone: 202-862-5844
    Email: dlachman@aei.org
  • Assistant Info

    Name: Emma Bennett
    Phone: 202.862.5862
    Email: emma.bennett@aei.org

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