Chapter 1. Introduction -- Chapter 2. Fiscal Policy and Government Debt in the 21st Century -- Chapter 3. European Debt Crisis and Flaws of the Euro Area -- Chapter 4. Sovereign Debt Channels in the Euro Area -- Chapter 5. European Fiscal and Debt Union -- Chapter 6. Specific Characteristics of...

Economic sanctions, and the suspension of budget support in particular, are supposed to pressure target governments to comply with donors' demands by putting spending commitments at risk. We argue that this is too simplistic since governments have more fiscal levers at their disposal. The case...