The 2015 Leaders in Global Economic Governance Lecture featured an address by Wolfgang Schäuble, Germany's Federal Minister of Finance, titled Europe: The Current Situation and the Way Forward. The address was followed by a panel discussion and question and answer session with the audience. Since the 1970s expansionary, debt-financed fiscal policies have been the rule in industrial societies, not the exception. They have enjoyed only moderate success. Is there an alternative to the repetitive cycles of credit booms followed by busts that we have seen in recent decades? Which policies does Europe’s model of “Sustainable Growth” imply? Are fiscal consolidation and structural reforms trade-offs or complements? Can Europe return to growth? Minister Schäuble will argue that it already has, and that Europe’s policies are sound overall. Welcome and Introductory Remarks: Merit E. Janow, Dean, School of International and Public Affairs and Professor of Professional Practice in International Economic Law & International Affairs, Columbia University John Coatsworth, Provost of the University and Professor of International and Public Affairs and of History, Columbia University Peter Jungen, Chairman of Peter Jungen Holding GmbH Discussants: Alessandra Casella, Professor of Economics, Columbia University Edmund S. Phelps, 2006 Nobel Laureate in Economics and Director, Center on Capitalism & Society, Columbia University Joseph E. Stiglitz, 2001 Nobel Laureate in Economics and University Professor, Columbia University Jan Svejnar, James T. Shotwell Professor of Global Political Economy & Director, Center on Global Economic Governance, Columbia University Co-sponsored by the Center on Global Economic Governance and the World Leaders Forum.

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