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The Public Debt Of Countries From Euro Zone. The Snowball Effect

  • Radulescu, Andrei

    (Senior Investment Analyst, SSIF Broker)

Registered author(s):

    Five years after the start of the worst financial and economic crisis since the end of the World War II the euro area countries are confronted with the persistence of the public debt crisis. The recent literature on macro-financial topics identifies the main factors that determined the launch of the sovereign debt crisis in Europe. One of the consequences of this crisis consists in the public debt effect. Several European countries pay an interest rate higher than the nominal GDP rate, leading to a snowball effect for the public debt. This short article reviews the main factors that determined the launch of the sovereign debt crisis and computes the public debt effect for the Euro Zone (12) member countries.

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    File URL: ftp://www.ipe.ro/RePEc/vls/vls_pdf/vol16i3p95-103.pdf
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    Article provided by Centre of Financial and Monetary Research "Victor Slavescu" in its journal Studii Financiare (Financial Studies).

    Volume (Year): 16 (2012)
    Issue (Month): 3 ()
    Pages: 95-103

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    Handle: RePEc:vls:finstu:v:16:y:2012:i:3:p:95-103
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    1. Schuknecht, Ludger & von Hagen, Jürgen & Wolswijk, Guido, 2009. "Government Bond Risk Premiums in the EU revisited: The Impact of the Financial Crisis," CEPR Discussion Papers 7499, C.E.P.R. Discussion Papers.
    2. Edda Zoli & Silvia Sgherri, 2009. "Euro Area Sovereign Risk During the Crisis," IMF Working Papers 09/222, International Monetary Fund.
    3. Salvador Barrios & Per Iversen & Magdalena Lewandowska & Ralph Setzer, 2009. "Determinants of intra-euro area government bond spreads during the financial crisis," European Economy - Economic Papers 388, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    4. Luciana Barbosa & Sónia Costa, 2010. "Determinants of sovereign bond yield spreads in the euro area in," Working Papers w201022, Banco de Portugal, Economics and Research Department.
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