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Debt with Less Drama Redux: Carmen Reinhart and Bill Rhodes in Conversation with Gillian Tett

October 12, 2011 | New York

As policymakers in advanced economies confront the overhang of excess debt, developments in the unfolding debt restructuring and liquidation drama episodically threaten to roil financial markets. Join us as Gillian Tett, U.S. Managing Editor of the Financial Times, discusses with Carmen Reinhart, the Dennis Weatherstone Senior Fellow at the Peterson Institute of International Economics, and Bill Rhodes, President & CEO, William R. Rhodes Global Advisors, LLC, Senior Advisor, Citi and Professor-at-Large, Brown University, the challenges of debt and their implications for the global economy and financial markets.

  • What are the growth implications of the debt overhang?
  • Will any of the advanced economies be able to grow their way out of debt?
  • Even if politicians muster the will, how effective is fiscal austerity likely to be in the EU, and in the U.S.?
  • What alternative, and potentially smoother and less disruptive, routes to debt liquidation might be taken, and what are their macroeconomic and financial market implications?
  • If policymakers continue to kick the can down the road, at what stage and under conditions will market discipline most likely kick in?
  • What restructuring options for insolvent EA sovereigns and EU banks are under discussion and which are likely to prevail? How much private sector burden sharing should be expected? What might be done to rectify the intra-area
    current account imbalances?
  • Will we see governments increasingly limit exchange rate fluctuations and rely on capital controls to manage the pressures from capital inflows, the commodity price boom, and advanced economy monetary policy?


  • Dr. Carmen Reinhart, Peterson Institute for International Economics
  • William R. Rhodes, William R. Rhodes Global Advisors
  • Dr. Gillian Tett, Moderator, Financial Times

Host: Katten Muchin Rosenman LLP

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