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The Sovereign Debt Crisis

Placing a Curb on Growth

Anton Brender (author) Florence Pisani (author)
Emile Gagna (author)

ISBN: 9789461381828

Publication Date: Apr 2013

Format: Paperback

Saddled with often high debt burdens and modest growth prospects, developed countries must now rebalance their government budgets. Doing so too rapidly, however, would choke growth. Faced with this dilemma, Japan and the US 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.
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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 must now rebalance their government budgets. Doing so too rapidly, however, would 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.
Language English
Pages 136
Dimensions 241 x 171
Date Published 30 Apr 2013
Publisher Centre for European Policy Studies
Subject/s Economics   Financial crises & disasters   Economic theory & philosophy   International economics   Development economics   Economic growth  
Anton Brender, Florence Pisani, and Emile Gagna are economists with Dexia Asset Management. Anton Brender and Florence Pisani teach at Paris-Dauphine University, France.

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