When the financial crisis hit Europe in 2008, governments reacted by bailing out the banks; increasing public debt which in turn coontributed to the current sovereign debt crisis. In response, the EU has sought to impose budgetary discipliine through thhe Europact, focusing on cutting government expenses rather than increasing revenues. Is stronger economic and social policy coordination necessary at EU level ? What effect will these measures have on societies within member states ? Is austerity really the best way out of the crisis ? Join critical economists and a Commission official to debate these important questions about the future of economic governance in the European Union.

Moderator: Susan George, President of the Board of Transnational Institute (TNI)