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High public debt in euro-area countries- comparing Belgium and Italy

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  • André Sapir

Abstract

During the 1970s and 1980s, Belgium and Italy accumulated huge amounts of public debt. In the early 1990s, at the time of the Maastricht Treaty, public debt reached a peak of nearly 140 percent of GDP in Belgium and nearly 130 percent in Italy. After Maastricht, both countries made major fiscal efforts in order to qualify for membership of the euro. When the euro was launched in 1999, public debt...

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  • André Sapir, 2018. "High public debt in euro-area countries- comparing Belgium and Italy," Policy Contributions 27205, Bruegel.
    • Handle: RePEc:bre:polcon:27205
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    Cited by:

    1. William Miles, 2021. "Convergence in the Eurozone: Progress Towards the Goal?," Economic Papers, The Economic Society of Australia, vol. 40(2), pages 116-133, June.
    2. Servaas Storm, 2019. "Lost in deflation: Why Italy`s woes are a warning to the whole Eurozone," Working Papers Series 94, Institute for New Economic Thinking.
    3. Baccaro, Lucio & D'Antoni, Massimo, 2020. "Has the "external constraint" contributed to Italy's stagnation? A critical event analysis," MPIfG Discussion Paper 20/9, Max Planck Institute for the Study of Societies.

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