Claudio Borio is the director of the monetary and economic department at the Bank for International Settlements (BIS). He joins the show to discuss his career in monetary policy, banking, and macroprudential regulation. In particular, he and David discuss problems afflicting the Eurozone and how to address massive financial imbalances across the world. David\u2019s Twitter: @DavidBeckworth Claudio\u2019s bio and research: https://www.bis.org/author/claudio_borio.htm David\u2019s blog: macromarketmusings.blogspot.com/ Related links: \u201cRevisiting Three Intellectual Pillars of Monetary Policy\u201d by Claudio Borio http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/2016/5/cj-v36n2-1.pdf