How Euro economies are being choked by an accounting identity
Brender, Anton, Gagna, Emile & Pisani, Florence. Is austerity in the Eurozone doomed to fail? This column argues that Eurozone governments have to acknowledge that their response to the sovereign crises has been wrong. Bringing budgets back to balance as quickly as possible and at any cost for growth is a recipe for disaster. Πηγή: Voxeu […]
The Eurozone’s May 2010 strategy is a disaster: Time to pay up and end this crisis
Wyplosz, Charles. The EZ rescue strategy adopted in May 2010 failed to restore debt sustainability, avoid contagion, or reduce moral hazard. This column argues that a volte face is needed. The debt of Greece, Portugal and Italy – and perhaps Ireland, Spain and France as well – must be restructured to restore growth and end […]