Baskaran, Thushyanthan; Hessami, Zohal - Fachbereich Wirtschaftswissenschaften, Universität Konstanz - 2013
One possible explanation for the European sovereign debt crises is that the European Economic and Monetary Union (EMU) gave rise to consolidation fatigue or even deliberate over-borrowing. This paper explores the validity of this explanation by studying how three decisive stages in the history...