The credit crunch demystified
Saturday 1 November, 12.15pm until 1.15pm, Upper Gulbenkian Gallery Lunchtime Debates

While the consequences of the credit crunch appear all too apparent, the intricacies of the complex financial instruments involved, combined with the vast sweep of the global financial system, seem to defy explanation. Attempts to accuse negligent regulators, fraudulent brokers and greedy borrowers cast much blame but little light on the causes of the crisis.

Are the current problems a sign that the developed world has been living off credit for too long? The United States is still by far the world’s largest and wealthiest economy, so why for so long has it been reliant on credit supplied by the smaller and poorer economy of China? In the past 30 years, the UK economy has shifted away from manufacturing towards financial services. In many ways London is the pre-eminent world financial centre, but is this a source of weakness rather than strength, leaving the UK more exposed to financial crises?

Dr Michael Savage
blogger, Grumpy Art Historian
Phil Mullan
economist and business manager; author, Creative Destruction: How to start an economic renaissance
Stuart Simpson
financial services professional; researcher and writer, emerging economies and quantitative finance

 Produced by
Stuart Simpson financial services professional; researcher and writer, emerging economies and quantitative finance

 Recommended readings
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