The Buttonwood Gathering 2015
February 10th / New York, NY
Sponsored by McKinsey & Co.
Despite the efforts of policymakers to make the financial system more stable, debt has continued to grow, rising by $57 trillion since the 2007 financial crisis. Governments in advanced economies have borrowed heavily to fund bailouts in the crisis and offset falling demand in the recession, while corporate and household debt in a range of countries continues to mount, including household debt in Northern Europe and South East Asia, and real estate related debt in China. The sources of corporate debt financing have also shifted dramatically from the banking sector to non-bank intermediaries. Does all this point to the risk of another debt crisis? Or, is this increased level of indebtedness the new normal economies must learn to live safely with? As forthcoming research from the McKinsey Global Institute addresses and speakers will discuss, where are the greatest risks in today's global debt landscape and what are the best options for deleveraging? What policy innovations may be implemented to manage debt demands more prudently? How do we avoid repeating the cycle of history's previous debt crises?
Susan Lund, Partner, McKinsey Global Institute
Jason Furman, Chairman, President's Council of Economic Advisers
Atif Mian, Professor, Princeton University and co-author, “House of Debt”
Richard Dobbs, Director, McKinsey Global Institute and director (senior partner), McKinsey & Company
Zanny Minton Beddoes, Editor-in-chief, The Economist
