According to estimates made by several German economic research institutes, economic growth will slow down also in the coming year. For the first half of 1967 an increase in terms of money by 5% and in real value by 2% is expected. As compared with growth rates in former years this growth is...

The current sovereign debt crisis is widely believed to have been caused by insufficient budget discipline. However, the financial sector accounts reveal that public as well as private borrowing in the euro area was dwarfed by the synchronised explosion of assets and liabilities of financial...