What is the best response to the continuing financial crisis, stimulus or austerity? Will the Euro hold together as a currency zone? Olivier Blanchard, Economic Counsellor and Director, Research Department, International Monetary Fund (IMF), joins David Welch, podcast host and CIGI Chair of Global Security, to address these questions and offer a broader discussion of the current challenges facing the global economy. Blanchard notes that stability in the euro zone will rely on the reestablishment of competitiveness and fiscal adjustment, although it will be much more difficult for some countries than for others. The conversation moves on to consider the looming "fiscal cliff" in the U.S. along with the potential global consequences of slowing Chinese growth.