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When financial markets force too much austerity. CEPS Commentaries, 6 May 2010

De Grauwe, Paul. (2010) When financial markets force too much austerity. CEPS Commentaries, 6 May 2010. [Policy Paper]

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    Abstract

    This Commentary warns that a self-defeating deflationary dynamics threatens to envelop the whole eurozone, in which the austerity being imposed by financial markets today makes recovery more difficult, thereby also making it harder to correct government deficits and debts. In the author’s view, this process can only be stopped by agreeing quickly on mutual financial support.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 11 Aug 2010
    Page Range: p. 2
    Last Modified: 15 Feb 2011 18:34
    URI: http://aei.pitt.edu/id/eprint/14500

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