1. A gaint historic mistake? -- 2. Before the fall -- 3. Freece and the idolatry of debt -- 4. Ireland: the private is … political -- 5. Europe digs deeper -- 6. Righting the course: from bail-out to bail-in -- 7. If Europe dared to write down debt …

In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and … simulations reveal that the PM/AF regime in France led to price volatility and debt stabilisation, while the AM/PF regime resulted … in disinflation and rising debt trajectory. Meanwhile, Italy's procyclical fiscal policy in downturns contributed to …

Debt Overhang is a controversial issue in the eurozone countries and is considered as one of the factors which created … the current economic crisis. How to deal with sovereign debt has been debated both at the theoretical and policy making … level. This paper looks at the Greek debt and four options are discussed: (a) unilateral default (b) unilaterally imposed …

This paper studies the emergence of sovereign bond yield spreads in the Eurozone prior to the financial crisis. While … spreads were close to zero in European government debt markets until the mid-2000s, they have persistently widened since then … cycles deviate most from the average Eurozone cycle. In contrast, spreads did not arise in response to adverse macroeconomic …