☰
HomeLiving Beyond BordersGZERO WorldSignalIn 60 SecondsPuppet RegimeGZERO World PodcastContact UsAbout UsCareersPrivacy PolicyTerms

Larry Summers explains the banking crisis

April 16, 2023
GZERO Staff
Larry Summers explains the banking crisis | GZERO World

youtu.be

On GZERO World, Ian Bremmer and former US Treasury Secretary Larry Summers discuss a range of topics, including the global banking system, the impact of AI on the labor market, and a controversial solution for rebuilding Ukraine.

Summers, an expert on inflation, provides valuable insights into recent bank failures that have caused concern among investors worldwide. He discusses whether the current situation constitutes a banking crisis, explores the role that inflation is playing in contributing to the banking problems, and makes predictions about the duration of the current financial turmoil.

He and Bremmer also touch on the impact of AI on the labor market, with Summers warning of significant changes that will cause profound shifts in traditional hierarchies and ways of thinking, which may make influential groups uneasy.

Summers also offers a provocative solution for rebuilding Ukraine: seizing frozen Russian assets.

Note: this interview was featured on an episode of GZERO World with Ian Bremmer on April 3, 2023: The banking crisis, AI & Ukraine: Larry Summers weighs in

More from GZERO Media

The Truth will set tariffs free

President Donald Trump speaks as he signs executive orders and proclamations in the Oval Office at the White House on April 9, 2025.

REUTERS/Nathan Howard

With stock markets plunging and US Treasury yields reaching new heights, Donald Trump finally reneged on parts of his widescale tariff plan on Wednesday, declaring a 90-day pause to the far-reaching “reciprocal” levies that he introduced just one week ago while leaving a 10% across-the-board duty in place. He also escalated the already-burgeoning trade war with China by increasing the tariff on their imports to 125%.

The EU extends a hand toward China

EU and Chinese flags in an illustration.

REUTERS/Dado Ruvic/Illustration

European leaders have much to worry about concerning trade and economic growth, and they’re exploring their options with China at a time when Beijing has a strategic interest in helping to divide the US from Europe. Demonstrating to EU leaders that China can become a force for stability in global trade at a time when Donald Trumpis waging a trade war on allies and rivals alike would further that goal.

DRC crisis deepens as former President Kabila reenters the scene

Democratic Republic of Congo's former President Joseph Kabila, attends a memorial service of Sam Nujoma, who became Namibia's first democratically elected president., February 28, 2025.
REUTERS/Siphiwe Sibeko

Former Democratic Republic of Congo President Joseph Kabila has announced his return to the country, vowing to halt the rapid advance of the Rwanda-backed M23 rebels who have seized significant territory in the country’s conflict-ridden east.

Germany’s Friedrich Merz strikes grand coalition deal

From left to right, Prime Minister of Bavaria Markus Soeder, Chairman of the CDU Friedrich Merz, Heads of the SPD Lars Klingbeil, and Saskia Esken arrive at a press conference after successful coalition negotiations in Berlin, Germany, on April 9, 2025.
Emmanuele Contini/NurPhoto via Reuters

Germany’s leading establishment parties reached a grand coalition deal on Wednesday, bringing Europe’s largest economy a step closer to having a formal government amid severe domestic and global challenges.

America just entered its post-globalization era

Jess Frampton

Globalization helped make the United States the most prosperous nation in history. But many Americans feel they haven’t benefited from free trade and voted for Donald Trump to “liberate” them from the system the United States built over the past 80 years. He is delivering.

Larry Summers has a few thoughts about Trump's trade war

Listen: For a special edition of the GZERO World Podcast, Ian Bremmer sits down with former Treasury Secretary Larry Summers to get his economic assessment of President Trump's unprecedented imposition of tariffs, which has sparked an escalating trade war.

About UsCareers PressContact Us Privacy PolicyTerms of Use
© 2020 GZERO Media. All Rights Reserved | A Eurasia Group media company.