Heading into trouble: A comparison of the Latin American crises and the Euro area's current crisis

We compare the experience of Latin American external debt crises, in particular the one in the 80s, with the current European one. We do so with the aim of shedding some light on the needed adjustment mechanisms. We argue for the need of much larger debt relief in Europe. To address the moral hazard problems that would arise, we propose providing such relief conditional on the reduction of both the fiscal and the current account deficits to zero as a commitment signal.

MoreLess

Year of publication:	2014
Authors:	Ramos-Francia, Manuel ; Aguilar-Argaez, Ana María ; García-Verdú, Santiago ; Cuadra, Gabriel
Publisher:	Ciudad de México : Banco de México
Subject:	Sovereign Debt \| Debt Crisis \| Crisis Management

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Series:	Working Papers ; 2014-17
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	796685924 [GVK] hdl:10419/129936 [Handle]
Classification:	F34 - International Lending and Debt Problems ; h12 ; H63 - Debt; Debt Management
Source:	EconStor

Persistent link: https://www.econbiz.de/10011445062