The Sovereign Debt Crisis: Causes and Consequences
The quasi-global sovereign debt crisis is currently the focus of the political debate and of media attention. The origins of the crisis have long been considered too narrowly, with often one-dimensional solutions being proposed. A somewhat more comprehensive approach was first adopted at the EU Coun...| Link(s) zu Dokument(en): | WIFO Publikation |
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| Veröffentlicht in: | Austrian Economic Quarterly |
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| Format: | article |
| Sprache: | Englisch |
| Veröffentlicht: |
2012
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| Zusammenfassung: | The quasi-global sovereign debt crisis is currently the focus of the political debate and of media attention. The origins of the crisis have long been considered too narrowly, with often one-dimensional solutions being proposed. A somewhat more comprehensive approach was first adopted at the EU Council Meetings of October and December 2011, thereby providing a major step towards the resolution of the most pressing problems. Tighter fiscal policy and more ample resources for the stabilisation fund are important moves. Nevertheless, a lasting solution must take a broader perspective and address certain deficiencies in the setup of EMU that were brought to the fore by the uneven economic performance of its members. |
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