School of Business Echo-Seminar on European Debt Crisis by Prof. Robert Robang
By: Gina Duran
Secretary, School of Business
Posted: Monday, September 17, 2012

The School of Business of continued with its professional lecture series on key business areas and relevant topics at the faculty room of the School of Business last September 13, 2012. Prof. Robert Robang, a faculty member of Economics (IBEAD) echoed the seminar on “Issues on the European Debt Crisis and its Prospective Solutions” that he attended last August 30, 2012 at the Asian Development Bank’s Policy Lecture Series.

Prof. Robang emphasized that the European Union (EU) crisis is not about the currency but the structural and political issues besetting the sovereign economies of EU countries. The rescue package should include elements of the Brady Plan, the offering of Euro bonds by the European Central Bank, implementation of market liberation and labor reforms including the adoption of structural reforms.   

The EU financial crisis will impact Asia particularly India and China which have extension trade relationships with many European countries. It is expected that both these countries will suffer a contraction in their growth that needs to be rebalanced with increases in domestic trade. It is expected that growth in Asia will happen by the latter half of 2013.

Dean Monchie Mañalac of the School Business closed the program by expressing his gratitude to Prof. Robang for delivering the echo-seminar and to the business faculty members for their continuing to support of the professional lecture series.   

 

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