Higgins, Matthew; Klitgaard, Thomas - In: Current Issues in Economics and Finance 17 (2011) Sept
For several years prior to 2010, countries in the euro area periphery engaged in heavy borrowing from foreign private … confidence in the sustainability of their finances. The result has been an abrupt halt in private foreign lending to these … economies. This study explains how the periphery countries became dependent on foreign borrowing and considers the challenges …