The next financial crisis is inevitable - isn't it?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 17 May 2017
⏱️ 20 minutes
🧾️ Download transcript
Summary
In part two of this week’s podcast, Georgie Frost, Rich Browning and Simon Lambert discuss the inevitability of another global financial meltdown and how we’re going to fix it this time round.
Meanwhile, what’s in store in Europe now a former investment banker, Emmanual Macron, is president of France and looking to reinvigorate the European project?
Perhaps this an opportunity for investors to make a quick buck or euro away from the uncertainty of the outcome of any Brexit negotiations.
Is putting bankers in charge of anything within a decade of them bringing the world financial system to its knees a bit foolhardy? Or is this a case of this time it’s different?
World War II was the solution to the Great Depression.
Enjoy.
Transcript
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| 0:00.0 | Welcome to This Is Money Show. I'm Georgie Frost and in the studio with me is editor Simon |
| 0:09.3 | Lambert and development editor Rich Browning. On the agenda, Europe is OK, but should we be looking |
| 0:15.0 | further afield when it comes to investing and can we avoid another financial crisis? Not according to one professor of economics. |
| 0:24.2 | Not without war or massive climate change. But first, vive la France, vive la repubblicique, |
| 0:31.0 | vive l'Europe. With the French election out of the way and the safe choice of Emmanuel Macron elected, |
| 0:36.4 | is it time to invest in Europe? |
| 0:39.3 | On the latest investing show, Simon has been speaking to Sigma Investment Management's Tom Beckett |
| 0:43.9 | and asked, are Europe's problems over? |
| 0:46.8 | If you look at markets, markets will tell you that they are. |
| 0:49.4 | I have a much more sceptical view of Europe. |
| 0:52.1 | The election of Monsieur Macron perhaps it's more dangerous than people actually probably realize. I think that there is a chance, people like Mr Juncker, people like Frow Merkel and indeed Monsieur Macron himself, see what's happened in France is the green light for go for the reignition of the European project. I think that if you saw in the first round of the French election voting, and indeed with examples like our decision to leave the European Union, Euroscepticism is rising across |
| 1:16.1 | Europe, and in particular in places like Italy, which I think will be the next flashpoint |
| 1:19.9 | within Europe. |
| 1:20.9 | So I think the concern for Europe is that actually they believe there is no problems and problems |
| 1:24.9 | are being solved. |
| 1:25.9 | But I think the three things which created issues and led to Madame Le Pen doing better than many people suspected in the first place, |
| 1:32.3 | migration, terrorism and a Moribond economy in many places in Europe, are probably here to stay. |
| 1:38.3 | And I think that really sets the scene for a French election five years' time where I think that one of Le Pen's |
| 1:43.3 | has a decent chance of winning that election. |
| 1:45.0 | I think that Europe is in danger of forgetting quite how grave the problems in the region are. |
| 1:49.0 | I think that is the biggest risk. I think there is enormous amount of complacency, |
| 1:52.0 | whether in terms of political attitudes or indeed in financial markets and asset prices. |
... |
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