G30 Publishes The 2008 Financial Crisis and Its Aftermath: Addressing the Next Debt Challenge, by Thomas A. Russo and Aaron J. Katzel

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The Group of Thirty publishes an Occasional Paper written by Thomas A. Russo and Aaron J. Katzel on the recent financial crisis and the challenges that remain.

"This paper comes at an important time. The challenges economies face are difficult, and it is my hope that this report will highlight the urgency of finding long-term solutions." stated author, Thomas Russo.

The Group of Thirty today released The 2008 Financial Crisis and Its Aftermath: Addressing the Next Debt Challenge, by Thomas A. Russo and Aaron J. Katzel, an Occasional Paper that looks at the 2008 financial crisis itself, the response to the crisis, and the challenges countries face in the coming years as they grapple with an unprecedented level of government indebtedness.

"This paper comes at an important time, as the United States and others are still working to implement long-term solutions and are just beginning to address large government debt. The challenges economies face are difficult, and it is my hope that this report will highlight the urgency of finding long-term solutions." stated Mr. Russo.

Dr. Jacob Frenkel, Chairman of the Group of Thirty added: "The paper's authors highlight the causes of the crisis and then move forward to the challenges we face today and the policy options we have before us." Dr. Frenkel continued: "We hope the paper serves as an important resource to decision-makers tackling these issues in the United States, Europe, and emerging market countries."

PDFs and hard copies of this paper are online at http://www.group30.org/publications.shtml, or via email at info(at)group30(dot)org. This paper will also be available on Kindle, beginning Thursday, June 30.

The Group of Thirty, formally known as “The Consultative Group on International Economic and Monetary Affairs, Inc.” was founded in 1978. The Group of Thirty is a private, nonprofit, international body composed of senior representatives of the private and public sectors and academia. The Group aims to deepen understanding of international economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors and to examine the choices available to market practitioners and to policymakers. The Group is led by Paul A. Volcker, Chairman of Trustees, and Jacob A. Frenkel, Chairman of the Group.

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Stuart Mackintosh
The Group of Thirty
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