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Item Details
| Title:
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RESOLVING THE EUROPEAN DEBT CRISIS
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| By: |
William Cline (Editor), Guntram Wolff (Editor) |
| Format: |
Paperback |
| List price:
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£22.00 |
| Our price: |
£17.60 |
| Discount: |
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| You save:
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£4.40 |
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| ISBN 10: |
0881326429 |
| ISBN 13: |
9780881326420 |
| Availability: |
Usually dispatched within 1-3 weeks.
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| Stock: |
Currently 0 available |
| Publisher: |
INSTITUTE FOR INTERNATIONAL ECONOMICS,U.S. |
| Pub. date: |
15 March, 2012 |
| Series: |
Special Report 21 |
| Pages: |
303 |
| Description: |
Investigates policy approaches to resolving the sovereign debt crisis. Coverage includes the political-economic context of the crisis in the five countries facing sovereign debt difficulties as well as in their key partner economies, France and Germany. |
| Synopsis: |
What began as a relatively localized crisis in Greece in early 2010 soon escalated to envelop Ireland and Portugal. By the second half of 2011, the contagion had spread to the far larger economies of Italy and Spain. In mid-September the Peterson Institute and Bruegel hosted a conference designed to contribute to the formulation of policies that could help resolve the euro area debt crisis. This volume presents the conference papers; several are updated through end-2011.European experts examine the political context in Greece (Loukas Tsoukalis), Ireland (Alan Ahearne), Portugal (Pedro Lourtie), Spain (Guillermo de la Dehesa), Italy (Riccardo Perissich), Germany (Daniela Schwarzer), and France (Zaki Laidi). Lessons from past debt restructurings are then examined by Jeromin Zettelmeyer (economic) and Lee Buchheit (legal). The two editors separately consider the main current policy issues: debt sustainability by country, private sector involvement and contagion, alternative restructuring approaches, how to assemble a large emergency financing capacity, whether the European Central Bank (ECB) should be a lender of last resort, whether joint-liability "eurobonds" would be feasible and desirable, and the implications of a possible break-up of the euro area. The luncheon address by George Soros and a description (by Steven R. Weisman with Silvia B. Merler) of the policy simulation game played on the second day of the conference complete the volume. Involving market participants and experts representing the roles of euro area governments, the ECB, IMF, G-7, and credit rating agencies, the game led to a proposal for leveraging the capacity of the European Financial Stability Facility through arrangements with the ECB. |
| Publication: |
US |
| Imprint: |
Institute for International Economics,U.S. |
| Returns: |
Returnable |
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