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Can Italy and Spain survive rates of 6-7%? CEPS Policy Brief No. 279, 27 July 2012

Gros, Daniel (2012) Can Italy and Spain survive rates of 6-7%? CEPS Policy Brief No. 279, 27 July 2012. [Policy Paper]

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    Abstract

    The sentiment that the euro is now in real danger is based in large part on the widespread conviction that interest rates of 6-7% are simply unsustainable for both Italy and Spain., After taking a closer look at the fundamentals, however, Daniel Gros concludes in this new Policy Brief that both countries should be able to live with this level of interest rates for quite some time, but only if they mobilize domestic savings, which remain strong in both countries. For Spain, some debt/equity swaps are also needed.

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    Item Type: Policy Paper
    Subjects for non-EU documents: Countries > Italy
    Countries > Spain
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 12 Aug 2012 13:54
    Number of Pages: 4
    Last Modified: 12 Aug 2012 13:54
    URI: http://aei.pitt.edu/id/eprint/36062

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