Eurozone slips into recession again: Debating the causes on China International Radio

Click below for a China International Radio debate on the Eurozone Crisis, the extent to which austerity has caused the latest slip of the currency union area into recession and what can be done about it.   

Panel Discussion involving:

-Cui Hongjian, Research Fellow with the China Institute of International Studies.
-Yanis Varoufakis, Professor of Economic Theory at the University of Athens.
-Jan Priewe, Professor of Economics at HTW Berlin the University of Applied Sciences.

(Please note that during this whole debate I was, simultaneously, driving through New Mexico and Texas, on the way to Austin. It is a sign of how the Eurozone Crisis has gotten under our skin that we can do this sort of thing!)

Here is the preamble as presented by China International Radio 

Europe slipped into recession for the second time in three years against a backdrop of large and often violent demonstrations against austerity measures.The 17-nation Eurozone’s economic output further fell by 0.1% in the third quarter. These economies had already registered a 0.2% drop in the second quarter.Five eurozone countries are in recession-Greece, Spain, Italy, Portugal and Cyprus. Those five are also at the center of Europe’s debt crisis and are imposing austerity measures, such as cuts to wages and pensions and increases to taxes, in an attempt to stay afloat.