Managing the Euro area debt crisis /:
First came the financial and debt crisis in Greece, then government financing difficulties and rescue programs in Ireland in 2010 and Portugal in 2011. Before long, Italy and Spain were engulfed by financial contagion as well. Finally in 2012, the European Central Bank pledged to do "whatever i...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, DC :
Peterson Institute for International Economics,
2014.
|
Schlagworte: | |
Online-Zugang: | Volltext |
Zusammenfassung: | First came the financial and debt crisis in Greece, then government financing difficulties and rescue programs in Ireland in 2010 and Portugal in 2011. Before long, Italy and Spain were engulfed by financial contagion as well. Finally in 2012, the European Central Bank pledged to do "whatever it takes" to preserve the euro area with purchases of government bonds, a step that achieved impressive results, according to William R. Cline in this important new book. One of the world's leading experts on fiscal and debt issues, Cline mobilizes meticulously researched and forceful arguments to trace the history of the euro area debt crisis and makes projections of future debt sustainability. He argues that euro area leaders made the right decision to keep the euro from breaking apart but warns against complacency about the future. Cline contends that troubled European economies should continue their fiscal consolidation but that further debt restructurings for most countries are not called for. Greece is a special case and may need some further debt relief contingent on continued progress on fiscal and structural reform, however. In this landmark study, Cline offers a detailed analysis of the mistakes, successes, and options for Europe as it struggles to overcome its worst economic disaster since World War II. |
Beschreibung: | 1 online resource |
Bibliographie: | Includes bibliographical references (pages 201-209) and index . |
ISBN: | 9780881326888 0881326887 |
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520 | |a First came the financial and debt crisis in Greece, then government financing difficulties and rescue programs in Ireland in 2010 and Portugal in 2011. Before long, Italy and Spain were engulfed by financial contagion as well. Finally in 2012, the European Central Bank pledged to do "whatever it takes" to preserve the euro area with purchases of government bonds, a step that achieved impressive results, according to William R. Cline in this important new book. One of the world's leading experts on fiscal and debt issues, Cline mobilizes meticulously researched and forceful arguments to trace the history of the euro area debt crisis and makes projections of future debt sustainability. He argues that euro area leaders made the right decision to keep the euro from breaking apart but warns against complacency about the future. Cline contends that troubled European economies should continue their fiscal consolidation but that further debt restructurings for most countries are not called for. Greece is a special case and may need some further debt relief contingent on continued progress on fiscal and structural reform, however. In this landmark study, Cline offers a detailed analysis of the mistakes, successes, and options for Europe as it struggles to overcome its worst economic disaster since World War II. | ||
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author | Cline, William R. |
author_facet | Cline, William R. |
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contents | Overview and policy implications -- Fiscal adjustment, growth, and default risk -- The bank-sovereign debt nexus -- External adjustment : breakup costs -- Eurobonds, firewalls, OMT, and debt restructuring -- Projections with the European debt simulation model : Ireland, Italy, Portugal, and Spain -- Debt restructuring and economic prospects in Greece. |
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spelling | Cline, William R. Managing the Euro area debt crisis / William R. Cline. Washington, DC : Peterson Institute for International Economics, 2014. 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier Print version record. Overview and policy implications -- Fiscal adjustment, growth, and default risk -- The bank-sovereign debt nexus -- External adjustment : breakup costs -- Eurobonds, firewalls, OMT, and debt restructuring -- Projections with the European debt simulation model : Ireland, Italy, Portugal, and Spain -- Debt restructuring and economic prospects in Greece. First came the financial and debt crisis in Greece, then government financing difficulties and rescue programs in Ireland in 2010 and Portugal in 2011. Before long, Italy and Spain were engulfed by financial contagion as well. Finally in 2012, the European Central Bank pledged to do "whatever it takes" to preserve the euro area with purchases of government bonds, a step that achieved impressive results, according to William R. Cline in this important new book. One of the world's leading experts on fiscal and debt issues, Cline mobilizes meticulously researched and forceful arguments to trace the history of the euro area debt crisis and makes projections of future debt sustainability. He argues that euro area leaders made the right decision to keep the euro from breaking apart but warns against complacency about the future. Cline contends that troubled European economies should continue their fiscal consolidation but that further debt restructurings for most countries are not called for. Greece is a special case and may need some further debt relief contingent on continued progress on fiscal and structural reform, however. In this landmark study, Cline offers a detailed analysis of the mistakes, successes, and options for Europe as it struggles to overcome its worst economic disaster since World War II. Includes bibliographical references (pages 201-209) and index . English. Debts, Public European Union countries. Monetary policy European Union countries. Currency crises European Union countries. Dettes publiques Pays de l'Union européenne. Politique monétaire Pays de l'Union européenne. Crises de change Pays de l'Union européenne. BUSINESS & ECONOMICS Public Finance. bisacsh Currency crises fast Debts, Public fast Monetary policy fast European Union countries fast 0-88132-687-9 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=800063 Volltext |
spellingShingle | Cline, William R. Managing the Euro area debt crisis / Overview and policy implications -- Fiscal adjustment, growth, and default risk -- The bank-sovereign debt nexus -- External adjustment : breakup costs -- Eurobonds, firewalls, OMT, and debt restructuring -- Projections with the European debt simulation model : Ireland, Italy, Portugal, and Spain -- Debt restructuring and economic prospects in Greece. Debts, Public European Union countries. Monetary policy European Union countries. Currency crises European Union countries. Dettes publiques Pays de l'Union européenne. Politique monétaire Pays de l'Union européenne. Crises de change Pays de l'Union européenne. BUSINESS & ECONOMICS Public Finance. bisacsh Currency crises fast Debts, Public fast Monetary policy fast |
title | Managing the Euro area debt crisis / |
title_auth | Managing the Euro area debt crisis / |
title_exact_search | Managing the Euro area debt crisis / |
title_full | Managing the Euro area debt crisis / William R. Cline. |
title_fullStr | Managing the Euro area debt crisis / William R. Cline. |
title_full_unstemmed | Managing the Euro area debt crisis / William R. Cline. |
title_short | Managing the Euro area debt crisis / |
title_sort | managing the euro area debt crisis |
topic | Debts, Public European Union countries. Monetary policy European Union countries. Currency crises European Union countries. Dettes publiques Pays de l'Union européenne. Politique monétaire Pays de l'Union européenne. Crises de change Pays de l'Union européenne. BUSINESS & ECONOMICS Public Finance. bisacsh Currency crises fast Debts, Public fast Monetary policy fast |
topic_facet | Debts, Public European Union countries. Monetary policy European Union countries. Currency crises European Union countries. Dettes publiques Pays de l'Union européenne. Politique monétaire Pays de l'Union européenne. Crises de change Pays de l'Union européenne. BUSINESS & ECONOMICS Public Finance. Currency crises Debts, Public Monetary policy European Union countries |
url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=800063 |
work_keys_str_mv | AT clinewilliamr managingtheeuroareadebtcrisis |