FCF Fox Corporate Finance had the pleasure to host Prof. Dr. Bofinger and Prof. Dr. Rösl at Munich’s “Seehaus” to discuss the current economic crisis, the underlying drivers and potential future economic and market developments together with an exclusive circle of guests.
The speakers explained the build-up and burst of the real estate and credit bubbles in the United States, the influence of the Lehman Brothers-collapse, the resulting drop in business climate and gross domestic product. Based on this backdrop different possible forward scenarios could be expected, with different outcomes for inflation / deflation, national debt levels and future economic prosperity. Following their inspiring lectures, Prof. Dr. Bofinger and Prof. Dr. Rösl engaged in a lively discussion between different scenarios for the future development. The antagonistic characteristics of the keynesian and neoliberal economic theories – presented by both economists – in combination with a curious and demanding audience from diverse backgrounds lead to a stimulating debate and a broad array of perspectives. The debate was furthermore interesting and complex because of the different impacts expected on the German versus other European and versus the US economy. In their concluding remarks, both professors agreed on a scenario projecting the German and European economies’ trough in the course of 2009 and a rather slow and gradual recovery over the following years. The event provided an enlightening platform for leading economists and executives from the financial, legal and industrial sectors to discuss the impact of the economic crisis on the German and European economies. FCF would like to thank Prof. Dr. Bofinger and Prof. Dr. Rösl and our distinguished guests – business partners and friends – for their interest, participation and support in helping make the evening a great success.
About Prof. Dr. Peter Bofinger