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Revisiting the Latvian and Greek financial crises : the benefits of front-loading Fiscal adjustment
Åslund, Anders - 2015
This paper discusses why Greece has done so poorly in comparison with all other European Union countries since the … onslaught of the global financial crisis in 2008. To show what was wrong with its fiscal adjustment, this paper compares Greece …, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because …
Persistent link: https://www.econbiz.de/10010530650
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Austeritätspolitik in der Europäischen Währungsunion: Bilanz und Perspektiven
Homburg, Stefan; Dullien, Sebastian; Höpner, Martin; … - In: Wirtschaftsdienst 95 (2015) 4, pp. 231-248
ebenso auseinander wie über das weitere: Sollte Griechenland aus dem Euro aussteigen oder sind nachhaltigere Strukturreformen … that austerity in Greece has failed due to the lack of political will and the lack of a functioning administration, which … probably a delayed and insuffi cient debt restructuring in Greece a lesson which should be taken on board for future adjustment …
Persistent link: https://www.econbiz.de/10011773175
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Regional integration and the euro crisis : problems and solutions
Pessoa, Argentino - 2013
to its disintegration. Considering the debt crisis as a problem of the PIIGS (Portugal, Ireland, Italy, Greece, Spain …
Persistent link: https://www.econbiz.de/10011515832
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Fiscal Adjustment and Debt Sustainability : Greece 2010-2016 and Beyond
Karavitis, Nicholas E. - 2022
This paper reviews the fiscal developments that led Greece from a successful convergence process and the adoption of …
Persistent link: https://www.econbiz.de/10014078158
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Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area
Truger, Achim - 2014
Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...
Persistent link: https://www.econbiz.de/10010424293
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Consolidating the Covid debt
Keuschnigg, Christian; Johs, Julian; Stevens, Jacob - 2021
One of the main functions of public debt is to smooth taxes and spending over time. In the Covid crisis, the Maastricht deficit restrictions were temporarily suspended to allow for large temporary deficits. As recovery sets in, countries are confronted with the task of consolidating the Covid...
Persistent link: https://www.econbiz.de/10012796971
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The Economic and Monetary Union : Past, Present and Future
Dabrowski, Marek - 2019
Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a...
Persistent link: https://www.econbiz.de/10012869760
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Economic Governance in the Euro Area : Balancing Risk Reduction and Risk Sharing
Balassone, Fabrizio - 2016
The unchecked build-up of imbalances during the 2000s exposed the euro area to the risk of sudden stops. Such risk materialized in 2009-10 and its consequences were amplified by the absence of adequate institutions. Europe embarked on a thorough process of reforming its economic governance. We...
Persistent link: https://www.econbiz.de/10012980035
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The economic and monetary union : past, present and future
Dąbrowski, Marek - 2019
Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a...
Persistent link: https://www.econbiz.de/10012029380
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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …
Persistent link: https://www.econbiz.de/10011308548