Volume 18, Number 7
Watch a 3-minute interview with Ivey Assistant Professor Mike Moffatt on the causes and effects of the euro crisis
While numerous other countries have grappled with financial crises, none are as urgent or sweeping at this time as Europe's debt crisis, especially as European leaders so far have been unable to steer their economy from danger.
"It has really had a domino effect across the global economy," said Mike Moffatt, an Ivey Assistant Professor who is a regular commentator in the Globe and Mail's Economy Lab feature. "Now that the European economy is shrinking and in a recession, they're ordering less goods from places such as China and India and China and India are ordering less raw materials from places such as Canada and Australia because they're not making as many goods. It has really had a ripple effect."
For more from Mike Moffatt on the euro crisis, please see his recent Economy Lab article and Globe and Mail video or for information on the Canadian economy, please see his Canadian economics blog, Worthwhile Canadian Initiative.