Advanced Search
MyIDEAS: Login to save this paper or follow this series

Zum Stand der Staatsschuldenkrise in Europa

Contents:

Author Info

  • Smeets, Heinz-Dieter
Registered author(s):

    Abstract

    -- The euro countries currently experience a severe government debt crisis. Since Greece asked for financial assistance in May 2010 there has been a lively debate on how to resolve this situation. The solution that has been primarily suggested by politicians so far is to finance governments' financial needs through emergency credits from EU sources (EFSF/ESM) and the International Monetary Fund. After explaining provisions like the stability pact and risk premiums on interest rates which aimed at guaranteeing fiscal stability in the pre-crisis EMU an overview is given showing financial and other political reactions to the crisis. In a second step, the sustainability of the Greek debt situation is extensively analyzed by employing the government budget constraint. The necessary primary surpluses enabling Greece to finance its government debt without international support from 2020 onwards are, however, substantial. Therefore, it is very likely that Greece either needs further financial assistance or an additional hair cut. Finally, some suggestions are made how to avoid possible government debt crises in the future.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://econstor.eu/bitstream/10419/65674/1/72888464X.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE) in its series DICE Ordnungspolitische Perspektiven with number 30.

    as in new window
    Length:
    Date of creation: 2012
    Date of revision:
    Handle: RePEc:zbw:diceop:30

    Contact details of provider:
    Postal: Universitätsstr.1, 40225 Düsseldorf
    Phone: +49 211 81-15494
    Fax: +49 211 81-15499
    Email:
    Web page: http://www.dice.hhu.de/en.html
    More information through EDIRC

    Related research

    Keywords: Staatsschuldenkrise; Schuldentragfähigkeit; Bankenrekapitalisierung; Währungsunion; Euro;

    This paper has been announced in the following NEP Reports:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Sinn, Hans-Werner & Wollmershäuser, Timo, 2012. "Target loans, current account balances and capital flows: The ECB’s rescue facility," Munich Reprints in Economics 19556, University of Munich, Department of Economics.
    2. repec:lus:reveco:v:63:y:2012:i:2:p:125-169 is not listed on IDEAS
    3. Paul Welfens, 2011. "Für zentralisierte Eurobonds, Strukturreformen und eine Euro-Union," Wirtschaftsdienst, Springer, vol. 91(9), pages 613-620, September.
    4. Gros, Daniel & Alcidi, Cinzia, 2012. "The Spanish Hangover," CEPS Papers 6836, Centre for European Policy Studies.
    5. Haucap, Justus & Lange, Mirjam R. J. & Wey, Christian, 2012. "Nemo Omnibus Placet: Exzessive Regulierung und staatliche Willkür," DICE Ordnungspolitische Perspektiven 27, Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    6. David Bencek & Henning Klodt, 2011. "Fünf Prozent sind (zu) viel," Wirtschaftsdienst, Springer, vol. 91(9), pages 595-600, September.
    7. Ansgar Belke & Christian Dreger, 2011. "Das zweite Rettungspaket für Griechenland," Wirtschaftsdienst, Springer, vol. 91(9), pages 601-607, September.
    8. Hans-Werner Sinn, 2011. "Target-Salden, Außenhandel und Geldschöpfung," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 64(09), pages 23-25, 05.
    9. Hans-Werner Sinn, 2010. "Euro-Krise: Die Bedeutung des Gewährleistungsgesetzes für Deutschland und Europa," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 63(10), pages 03-09, 05.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:zbw:diceop:30. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.