July 3, 2012 - Training

La crise européenne et ses conséquences en Amérique du Nord

The international spread of Europe’s economic and financial crisis has become an issue which cannot be ignored when analyzing its consequences and the public policies best suited to solving it. Itself a consequence of the financial crisis that originated in the United States in 2007, the present European crisis has in turn brought about economic and political repercussions in North America. While opinions differ as to the nature and scale of the impact of the European crisis on the North American economy, it nonetheless now appears clear that this major crisis will have a lasting effect on the way we conceive of economy, budgetary and political integration in the context of a monetary union. In this regard, while there are lessons to be drawn from the European experience, certain aspects of the North America’s experiences with federalism might also contribute to the intense debates now under way in Europe.


Holding a Ph.D. in economics from the University of Toronto, Marcelin Joanis is a professor in the department of economics of the Université de Sherbrooke and a researcher at CIRANO and at the Groupe de recherche en économie et développement international (GRÉDI). A specialist in public economics and budgetary policies, he is co-director of Le Québec économique, an annual publication of the Presses de l’Université Laval.


Etienne Farvaque is a professor of economics at the Université du Havre in France and a member of the EQUIPPE research laboratory of the Universités de Lille. His areas of interest are monetary macroeconomics and the political economy of public decision-making. He is the author of four books, including La Banque Centrale Européenne et Économie de la Démocratie, as well as more than 30 papers that have been published in scholarly journals. He may be contacted at Etienne.Farvaque@univ-lehavre.fr.


To download the presentation, please click here.


Mandatory readings:

  • Bank of Canada. 2012. Report on monetary policy.
  • Bergsten, C. Fred. 2012. "The Outlook for the Euro Crisis and Implications for the United States," declaration before the U.S. Senate Budget Committee
  • Boone, Peter and Simon Johnson. 2010. "Will the Politics of Global Moral Hazard Sink Us Again" in The Future of Finance and the Theory that Underpins It, Adair Turner et al., Chapter 10. London School of Economics and Political Science.

This conference is part of the Summer School «Europe in crises» (2-7 July 2012).

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Université de Montréal - McGill University