Prof. Volker Wieland gives Hayek Lecture at the Walter Eucken Institute
Volker Wieland gave this week's Hayek Lecture at the Walter Eucken Institute at the University of Freiburg. In his lecture, he discussed the stability of the euro and warned of the long-term risks of excessive government debt.
Wieland emphasized that doubts about the cohesion of the monetary union remain and that the euro will therefore not automatically become the world's leading reserve currency. He attributed the high inflation rates of 2022 and 2023 to energy price shocks, expansionary monetary policy, and delayed interest rate hikes, among other factors.