2013
DOI: 10.2753/jei0021-3624470216
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European Debt Crisis: How a Public Debt Restructuring Can Solve a Private Debt Issue

Abstract: Abstract:The political and economic crisis in Europe is often viewed as an indirect consequence of the global financial and economic breakdowns caused by the US "subprime" crisis. European governments themselves tend to underestimate Europe's responsibility for the crisis and seem to prefer to manage the symptoms of the crisis rather than pursue a real recovery from it. This paper argues that the enforced policies are far from achieving an appropriate economic solution for the Eurozone. Moreover, it suggests t… Show more

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