What is it about?
This paper is aimed at evaluating means whereby a redress of the Euro zone’s sovereign debt problems could be effectively achieved. In addition to present regulatory efforts and regulatory measures, it also considers other measures - one of which aims to combine “quantitative easing” schemes with other policies which would effectively address the need to reduce the debt burden of countries such as Greece, Portugal, Spain, Ireland and Italy, whilst incorporating corrective measures which lead to a growth in economic activities as well as increased competitiveness.
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Why is it important?
The emphasis on tough fiscal measures - rather than the need for more stringent regulatory financial reforms is also considered to have played a contributory role – not only in the difficulty encountered by heavily indebted countries in reducing their levels of sovereign debts, but also creating further debts.
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This page is a summary of: Bailouts and Longer Term Refinancing Operations: When Temporary Cures Generate Longer Term Economic Concerns, SSRN Electronic Journal, Social Science Electronic Publishing,
DOI: 10.2139/ssrn.2041654.
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