Diverging fiscal policy paths, housing booms and diverging unit labour costs were driving forces of rising intra-European current account imbalances, which were underpinned by low interest rates. Since the outbreak of the crisis, the adjustment of intra-EMU current account imbalances has been...

Since the financial crisis in 2008-09, concern over the sustainability of some EU countries’ sovereign debt has continued to mount higher and higher. This paper explores the ways in which the financial crisis caused the deterioration of European debt-to-GDP ratios, examines which countries are...

The problem of the growing indebtedness of developing countries is playing an increasingly important role at international conferences. It was also the central subject of the ninth special session of the UNCTAD Board whose third part ended on March 11, 1978. The resulting resolution, though not...