News > Muddling through the financial crisis

Muddling through the financial crisis

Five years ago, Lehman Brothers went bankrupt, triggering the most severe financial crisis in almost a century. So when ELEC’s Monetary Commission convened last week in Brussels, the theme was obvious. Did we learn the from the mistakes? The answer that came out of the presentations and the debate was not very reassuring. Yes, we avoided the worst case scenario. Yes, a lot has been done. But not all the right steps have been taken yet. After five years the situation is still fragile. Europe has de facto chosen a muddling through scenario. We are not out of the doldrums yet.

As always, the meeting was held under Chatham House Rules. ELEC members can find the minutes of the meeting on our website using their password to log in.

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