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Tough Love: The True Nature of the Eurozone Crisis
There are a number of misconceptions about the ongoing Eurozone crisis. One is that it is a debt crisis: in fact many countries that are considered to be reasonably sound have bigger long-term fiscal deficit problems than even the weakest Eurozone countries. The crisis partly reflects the pain of fr...
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| Published in: | Business economics (Cleveland, Ohio) Ohio), 2012-07, Vol.47 (3), p.177-189 |
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| Format: | Article |
| Language: | English |
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| cites | cdi_FETCH-LOGICAL-c6147-fe3ff72fe4a6b8f5a63d91c5b089f9e3d9a03ceaa90eec75aabdf69f71c75a423 |
| container_end_page | 189 |
| container_issue | 3 |
| container_start_page | 177 |
| container_title | Business economics (Cleveland, Ohio) |
| container_volume | 47 |
| creator | SCHMIEDING, HOLGER |
| description | There are a number of misconceptions about the ongoing Eurozone crisis. One is that it is a debt crisis: in fact many countries that are considered to be reasonably sound have bigger long-term fiscal deficit problems than even the weakest Eurozone countries. The crisis partly reflects the pain of frontloaded fiscal repair. But even more so, the crisis has turned into a step-by-step attempt to forge a stronger and more coherent Europe. The reluctance of the European Central Bank to defuse the tensions which this process creates makes the region vulnerable to bouts of market turmoil. This paper outlines the course of the crisis, the policy responses to date, and the actions that are necessary to resolve it. |
| doi_str_mv | 10.1057/be.2012.17 |
| format | article |
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| identifier | ISSN: 0007-666X |
| ispartof | Business economics (Cleveland, Ohio), 2012-07, Vol.47 (3), p.177-189 |
| issn | 0007-666X 1554-432X |
| language | eng |
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| source | JSTOR Archival Journals and Primary Sources Collection; ABI/INFORM Global; Springer Nature:Jisc Collections:Springer Nature Read and Publish 2023-2025: Springer Reading List |
| subjects | Banking crises Business and Management Central banks Debt restructuring Deficit financing Economic crises Economic crisis Economic growth Economic recessions Economic theory Economics Economics and Finance Euro Zone European Central Bank Eurozone Federal budget deficit Financial risk Fiscal policy Forecasts and trends GDP Gross Domestic Product International economic relations International financial institutions Market trend/market analysis Original Article Political Economy/Economic Systems Presidential elections Public debt Purchasing managers index Securities industry Sovereign debt Studies |
| title | Tough Love: The True Nature of the Eurozone Crisis |
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