The Eurozone crisis: Fiscal fragility, external imbalances, or both?
Alessandrini, Pietro, Fratianni, Michele, Hughes Hallett, Andrew & Presbitero, Andrea. Unsustainable debt along Europe’s periphery is bringing the euro to breaking point. But this column argues that this is not simply the result of fiscal ill-discipline. After 2010, the Eurozone crisis went from a fiscal crisis to a balance-of-payments crisis – with different prescriptions for policy. Πηγή: […]
Greece’s predicament: Lessons from Argentina
Kretzmer, Peter, Levy, Mickey. Greece’s economic and financial crisis is quickly deteriorating and there is no strategy – or even a coalition government – to figure out what to do next. This column looks at the lessons from Argentina’s default in 2001 and argues that Greece’s road to necessary economic reforms, fiscal sustainability and recovery […]
Let’s Toast The Greek Bailout
Dalton, Matthew. Greece still needs its international creditors from the euro zone and the International Monetary Fund, but it needs them much less than when its now-despised bailout program began in 2010. How so? The IMF and the European Commission, the EU’s executive arm, project that Greece’s primary deficit – that’s the government deficit excluding […]