# Prof. Michael Spence discusses the state of Europe's economy

1 Faculty News May 22, 2014>

Excerpt from [Bloomberg](http://www.bloomberg.com/video/europe-won-t-recover-without-weak-euro-spence-9Uj_3YyTTjWDpKQmDeQpfg.html) -- "\[Our central bank system\] is quite distorted. I don't think Europe can recover unless there is a significant weakening of the Euro, so, very reluctantly, the ECB is about to move into that territory."

[Watch the video](http://www.bloomberg.com/video/europe-won-t-recover-without-weak-euro-spence-9Uj_3YyTTjWDpKQmDeQpfg.html)

Additional coverage appeared on [Bloomberg Businessweek](http://www.businessweek.com/videos/2014-05-22/europe-won-t-recover-without-weak-euro-spence).