Sylvester Eijffinger: "The artificially low ECB interest rate is causing problems for our pension system"

In this episode, Paul Buitink talks to Sylvester Eijffinger, emeritus professor of financial economics at Tilburg University. The common thread of the discussion is the functioning of the European Economic and Monetary Union (EMU).

While one of our previous guests, Arjo Klamer, has always been an opponent of the euro, Eijffinger considers himself a big supporter. Paul questions the sustainability of the euro. Countries do not abide by the agreed fiscal rules and are not held to the rules. According to Paul, monetary union does not work if there is no political union. At the same time, there seems to be no support for giving up even more sovereignty at the moment. As a strong supporter of EMU, Sylvester views these developments and what does he think needs to be done for the euro to succeed? An exciting and open conversation follows.

In addition, a number of other matters are discussed such as; problematic debts among young people, high inflation, pension funds and, finally, the business climate.