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As the financial crisis and economic recession become deeper, strong European-US leadership is becoming indispensable to prevent a major worldwide crisis. While the US approach to the crisis has many flaws, it is more internally consistent than the partial and mostly uncoordinated initiatives observed in Europe. A large-scale joint European-US approach is needed to reverse the downward spiral.

Jan Švejnar, Economist, Professor at the Univesity of Michigan, and a Director of the InternationalPolicyCenter at the University of Michigan. Founder and Chairman of the Executive and Supervisory Committee of CERGE-EI in Prague. He was also an economic advisor to President Václav Havel. From 1992 to 1999, he served as Founding Director of the Economics Institute of the Academy of Sciences of the CzechRepublic. He received his B.S. from CornellUniversity and his MA and Ph.D. in Economics from PrincetonUniversity.