Greece’s Soft Budgets in Hard Times
Gros Daniel. The first de facto default of a country classified as “developed” has now taken place, with private international creditors “voluntarily” accepting a “haircut” of more than 50% on their claims on the Greek government. As a result, Greece now owes very little to private foreign creditors. Πηγή: Project Syndicate πλήρες κείμενο
Challenges for the euro area and implications for Latvia
Wolff, Guntram. This Policy Contribution reviews the major challenges faced by the euro area, and discusses recent initiatives and the way forward. Some implications are drawn out for Latvia’s euro accession, which is likely to be beneficial on balance. The euro area faces three major challenges: (1) high private and public debt in some of […]