policy. Their impact is comparable to that of fiscal stimuli, albeit better inasmuch as they do not give rise to new debt. A …

out. Failure to resolve the euro area debt crisis in an orderly manner – and in the very near future as well – may lead to …

public debt levels continues to set the tone throughout Europe, as epitomized by the Fiscal Compact. But, were the Fiscal …

Distribution Debt and financial stability (by Jan Toporowski; pp. 12-15) Keywords financial stability, debt, fiscal policy …

The present economic crisis bears all the familiar hallmarks of the financial, debt-related and structural aspects of … circle of low growth, high interest rates and unsustainable debt. These three countries, as well as the Baltic states, are … crisis brought about a need to correct strong external imbalances and the excessive private sector debt build-up prior to the …