# In an op-ed, Prof. Thomas Philippon discusses the eurozone crisis

1 Faculty News November 11, 2014 ![VoxEU logo ](/sites/default/files/styles/246w/public/assets/images/con_030499.jpg?itok=Qjpc4sQk)>

Excerpt from [Vox](http://www.voxeu.org/article/what-caused-eurozone-s-crisis) -- "Given the scale of the crisis, understanding the dynamics of the Eurozone is a major challenge for macroeconomics today. We argue that we need a quantitative framework to identify these various mechanisms, their relations and, ultimately, to run counterfactual experiments. This is what we do in a recent paper (Martin and [Philippon](http://w4.stern.nyu.edu/faculty/bio/thomas-philippon) 2014)."

[Read more ](http://www.voxeu.org/article/what-caused-eurozone-s-crisis)