AICGS is pleased to be able to offer its members the ability to participate in its first media conference call concerning the upcoming German Constitutional Court’s decision on the legality of the new European bailout fund and fiscal pact on September 12. Their decision has the power to clear the way for the European Stability Mechanism (ESM), the permanent bailout fund, to become operational. If the court decides the ESM cannot be ratified by Germany, the rescue fund would not have the financial means to do its job. Things in the euro zone could quickly unravel. Speculative attacks on Spain and Italy would quickly follow, pushing up yields for their sovereign bonds to unsustainable levels. Even France could come under fire.
On September 11 Jackson Janes, President of AICGS; Jacob Kirkegaard, Research Fellow at the Peterson Institute for International Economics; and Alex Privetera, Director of the AICGS Business & Economics Program, will lead a lively discussion on the potential results of the upcoming decision and the status of the euro zone.
For further reading, please see “Waiting on Karlsruhe,” written by the Director of the AICGS Business & Economics Program, Alexander Privitera.
Made possible by the support of AICGS Business & Economics Program