The new global economic crisis - The two top economists Hans-Werner Sinn and Friedrich Schneider discuss the global consequences of the corona pandemic.
The new global economic crisis - The two top economists Hans-Werner Sinn and Friedrich Schneider will discuss the global consequences of the corona pandemic from an Austrian, German and European perspective in the JKU Corona Update on April 24. In its new economic outlook, the International Monetary Fund (IMF) expects a world recession, the depth of which can only be compared with the Great Depression after 1929. And the WIFO also revised its forecast for 2020 downwards again yesterday. According to this, the Austrian economy will collapse between 5.25 and 7.5 percent. The government's "cost it what it may" strategy will result in a historic budget deficit of between 7.5 and 10 percent. Rector Meinhard Lukas will discuss this sobering finding today with the two influential economists Hans-Werner Sinn and Friedrich Schneider in the JKU Corona Update, as well as the role of the governments in Austria and Germany and the European Union.
The former President of the Ifo, Prof. Hans Werner Sinn, has repeatedly expressed himself critical of European monetary policy in the past. And he has also appeared repeatedly against Eurobonds. In his opinion, the corona crisis exacerbates past economic policy mistakes. In the German Handelsblatt, he summed up his criticism: “The central banks are responsible for the bubble that Corona is now bursting. The task now is to save companies and banks from bankruptcy. "
This promises to be an exciting discussion that Rector Meinhard Lukas will have with the following scientists today, Friday:
- Prof. Hans-Werner Sinn, political economist and financial scientist, until 2016 President of the Ifo Institute in Munich
- Prof. Friedrich Schneider, emeritus professor for economics at the JKU Linz