The State of the Economy Conference's speakers quoted in the media
The Daily Telegraph quoted Andrew Sentance, former Monetary Policy Committee member, saying that weak growth and volatility are the ‘new normal’ that Britain would have to get used to.
FT Adviser quoted Roger Bootle, Managing Director at Capital Economics, warning that the UK would face another ‘ghastly’ financial crisis and a long slog back to prosperity. Bloomberg reported Bootle’s prediction that consumer spending would not return to pre-downturn levels for a whole decade. His comments on the eurozone’s ‘existential crisis’ and the likelihood of a Greek exit from the currency union were quoted on PublicService.
Steve Hanke, Professor of Applied Economics at John Hopkins University, was quoted on CityWire, saying that the crisis was not a result of market failure, but government failure and that central bankers, especially the Fed, were the enablers with their reactive monetary policy.
Also on CityWire, Andrew Milligan, Head of Global Strategy at Standard Life Investments, was quoted outlining five potential developments that could impact the global economy, but that could not be predicted.
Reuters quoted both Andrew Milligan and Andrew Sentance on their remarks about commodity markets.
Thomas Mayer, Chief Economist at Deutsche Bank, commented on Franco-German relations and the potential for policy clashes should Francois Hollande take over Sarkozy’s presidency, which could lead to a financial market ‘bloodbath’. This was reported in the Wall Street Journal and on PublicService.
Thomas Mayer also spoke to BBC Radio 4’s Today programme about the political and economic future of the Eurozone. Listen here (starts at 2:41:00).