Conservative Institute organized to another of the CEQLS Lectures: Philipp Bagus was our guest on June 13, 2011 in Bratislava and on June 14, 2011 in Žilina. More information is available at www.institute.sk

1. The Tragedy of the Euro Philipp Bagus Conservative Economic Quarterly Lectures Series June, 13, 2011 21.06.11 Philipp Bagus: The Tragedy of the Euro

7. 21.06.11 Three month monetary rates of interest in Germany, Greece, Spain, Ireland, Italy and Portugal (1987-1998) Philipp Bagus: The Tragedy of the Euro

8. 21.06.11 Philipp Bagus: The Tragedy of the Euro

9. 21.06.11 Balance of Trade 1994-2009 (in million Euros) Philipp Bagus: The Tragedy of the Euro

10. 21.06.11 Competitiveness indicators based on unit labor costs, for Mediterranean countries and Ireland 1995-2010 (1999Q1=100) Philipp Bagus: The Tragedy of the Euro

11. 21.06.11 Competitiveness indicators based on unit labor costs, for Belgium, The Netherlands, Austria and Germany 1995-2010 (1999Q1=100) Philipp Bagus: The Tragedy of the Euro

12. 21.06.11 Retail sales Germany, USA, France, UK (1996=100) Philipp Bagus: The Tragedy of the Euro

13. 21.06.11 Retail sales Spain (2000=100) Philipp Bagus: The Tragedy of the Euro

14. 21.06.11 Philipp Bagus: La tragedia del euro Increase in M3 in percent (without currency in circulation) in Spain, Germany, Italy, Greece, and Portugal (1999-2010) Increase in M3 in percent (without currency in circulation) in Spain, Germany, Italy, Greece, and Portugal (1999-2010)

17. Government ECB Banking system Bonds Money Bonds Reserves Profits Interests Interest Interest

18. Bank holdings of government debt (EU)

20. Government Banking system Insurers, hedge funds, pension funds Bonds Money Invest Interests Interests Interests Credit expansion Owners of factors of production (workers…) Bonds Money ECB Bonds Reserves

25. Thank you 21.06.11 Philipp Bagus: La tragedia del euro