Does Europe threaten world recovery? Lessons for the US

On 12th November 2013 Economists for Peace and Security convened a workshop in Washington DC to discuss Jobs, Investment and Rebuilding America: An economic and national security agenda. In that forum we heard Jason Furman, Chair of the Council of Economic Advisors, deliver a passionate speech in defence of social security and welfare provisions against the encroachments of austerity and debt fetishism. In that same context I was asked to address the question: Does Europe pose a threat to US and global recovery prospects? Here is an audio of what I had to say: