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The Sovereign Debt Crisis: Placing a curb on growth. CEPS Paperbacks. May 2012

Brender, Anton and Pisani, Florence and Gagna, Emile (2012) The Sovereign Debt Crisis: Placing a curb on growth. CEPS Paperbacks. May 2012. Series > Centre for European Policy Studies (Brussels) > CEPS Paperbacks . UNSPECIFIED. ISBN 978-94-6138-182-8

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    Abstract

    To ward off the threat of a worldwide depression that loomed at the end of the 2000s, governments opted to run up substantial fiscal deficits. In doing so, they sowed the seeds of the sovereign debt crisis. Saddled with often high debt burdens and modest growth prospects, developed countries’ governments must now rebalance their budgets. Doing so too rapidly, however, will choke growth. Faced with this dilemma, Japan and the United States have pursued growth policies while the euro area members are quickly trying to rebalance their budgets. This book explores the respective risks associated with these two strategies. It further investigates the consequences for the international monetary and financial system of developing countries’ public debts ceasing to be risk-free.

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    Item Type: Book
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > budgets & financing
    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 Paperbacks
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 25 Feb 2014 09:56
    Number of Pages: 136
    Last Modified: 08 Mar 2014 12:12
    URI: http://aei.pitt.edu/id/eprint/47689

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