Jan Lepelik

MI Summit 2013 - London: Reviving and Recapitalizing Europe

Andrew Goldberg, Peter Guenter, Yann Le Pallec, Keith Savard, Howard Shore, Zak Summerscale, Jan Lepelik

J.P. Morgan's Andrew Goldberg, S&P's Jan Lepelik, and other panelists analyze the ongoing European sovereign and banking crisis, noting that while contagion risks have been contained, fundamental structural deficits and a persistent link between sovereign and bank stability remain unresolved. Experts including Peter Gunter of Sanofi and Keith Savard of the Milken Institute warn that austerity measures are proving self-defeating, arguing that sustainable recovery requires Germany to reflate spending and the EU to address weak consumer demand alongside labor market imbalances. Ultimately, the panel concludes that achieving the necessary political and fiscal integration to stabilize the Eurozone is a multi-decade project fraught with uncertainty, as current divergence between Northern and Southern member states threatens the long-term viability of the monetary union.