debt crisis

World Views: May 17, 2013
4:30 pm
Fri May 17, 2013

World Views: May 17, 2013

Listen to the entire May 17, 2013 episode.

University of Oklahoma political economist and European Union expert Mitchell Smith joins the program for a conversation about the eurozone's economy slipping further into recession, and the American kicked out of Russia over accusations of spying for the CIA.

Veteran diplomat Richard Arndt speaks with Suzette Grillot and Joshua Landis about how the national security state changed U.S. diplomatic relations. He's the author of The First Resort of Kings: American Cultural Diplomacy in the Twentieth Century.

World Views
12:44 pm
Fri May 17, 2013

Why Debt-Weary Europe Should Watch Out For A Political Crisis

A demonstrator holds a sign protesting Ireland's continued bank debt - Feb. 9, 2013
Credit William Murphy / Flickr

Slow growth is plaguing many European countries as they struggle to cut their spending and debts. France's GDP has fallen for two consecutive quarters, and Greece's international lenders say unemployment will remain above 20 percent for another three years.

Mitchell Smith, the Chair of OU's Department of International and Area Studies and the Director of the European Union Center, says austerity has generated more than just economic tensions.

"I actually think the political problems a number of European countries are experiencing are even more worrisome than the economic problems," Smith says. "The eurozone countries have, at least for the time being, allayed some of the concerns of financial markets and they don't want to stir things up and start another run-up of a financial crisis."

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