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Hutton Honors College

 — Indiana University

The Eurozone in Crisis:
a Primer on What the Eurozone Is and A Discussion of Why It Matters

December 6, 2011

Students joined Professor Martin C. Spechler, Professor of Economics at IUPUI and a faculty affiliate of IU's Russian and East European Institute, for an informal discussion of the crises in the Eurozone economies of Greece, Spain, Italy, and Portugal-and now the Eurozone itself. Spechler gave a concise and informative 50 minute lecture on the history of the euro, which led to the subsequent position the European Union is facing today. Students remained to ask questions, such as would the collapse of the Eurozone lead to the collapse of the world's economy? - to the economy of the United States? Why did the European Union institute the euro as its common currency? How is the structure of the EU set up different from that used for the dollar in the United States? What are the inherent problems of having a single currency, the euro, in more than one (now 17) sovereign states? Students took a break from dead week to enjoy a pizza supper and some riveting conversation.

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Professor Spechler is an expert on the comparative economies of Eastern and Western Europe and the impact they have on the politics of all of Europe. He taught economics at Harvard University after earning his undergraduate and doctoral degrees there. Since 1997 he has worked in Central Asia as a consultant for the World Bank, Global Development Network, and USAID. Most recently he has been advising the Asian Development Bank's CAREC project, which promotes freer trade and finances roads, infrastructure, and water projects in this vast region of more than 100 million people.

At this discussion supper, students talked with Professor Martin C. Spechler about the Eurozone Crisis and the impact the Eurozone has on the world economy.

Dr. Spechler gave a brief and concise explaination of what the Eurozone is and answered questions.

At our largest event of the semester, students packed into the Honors Great Room to enjoy a pizza supper and to learn more about the Eurozone.

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