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Bridging Economic Rifts: Kees Storm on Saving the Euro


January 3, 2012

The current euro crisis is "hopefully just a hiccup that we will overcome," says Kees Storm, member of IESE's International Advisory Board, in this interview at the recent Global Alumni Reunion in Madrid.
 
To address Europe's problems, Storm says that Europe needs to 1) prepare world-class civil servants, who have the knowledge and skills to effectively oversee regulation in today's complex economic environment, and 2) re-establish measures to stabilize the banking sector, such as separating investment and savings banks, as proposed by Paul Volcker, who currently serves as Chairpserson of the President's Economic Recovery Advisory Board in the United States.
 
Looking back on history, he says, the United States faced similar problems when it introduced a common currency and had to integrate stronger states with weaker ones, he said. "But nobody talks about it anymore in the U.S. We have to reach that stage still. I am extremely hopeful we will will reach a better stage."

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