Despite the action of the European Central Bank and of the European Union together with plans of fiscal consolidation at the national level, it is still difficult in 2012 to forecast when and how the crisis that is hitting Europe will come to an end. In this context, the worry has emerged that Europe may follow a scenario similar to the Japanese two decades of economic stagnation. Three leading Japanese and French economists will discuss about these two experiences, their similarities and differences and emphasize the policies and reforms that should be introduced to avoid a “Japanese scenario for Europe” in the coming years.

Round table with Hiroshi Yoshikawa, University of Tokyo ; Marc-Olivier Strauss-Kahn, Banque de France ; Satoshi Kawazoe, Bank of Japan.