The Public Debt Of Countries From Euro Zone. The Snowball Effect
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.
Volume (Year): 16 (2012)
Issue (Month): 3 ()
|Contact details of provider:|| Postal: |
Phone: 004 021 3182419
Fax: 004 021 3182419
Web page: http://www.icfm.ro/
More information through EDIRC
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.:
- 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 Financial Affairs (DG ECFIN), European Commission.
- von Hagen, Jürgen & Schuknecht, Ludger & Wolswijk, Guido, 2011.
"Government bond risk premiums in the EU revisited: The impact of the financial crisis,"
European Journal of Political Economy,
Elsevier, vol. 27(1), pages 36-43, March.
- 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.
- Schuknecht, Ludger & von Hagen, Jürgen & Wolswijk, Guido, 2010. "Government bond risk premiums in the EU revisited: the impact of the financial crisis," Working Paper Series 1152, European Central Bank.
- 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.
- Edda Zoli & Silvia Sgherri, 2009. "Euro Area Sovereign Risk During the Crisis," IMF Working Papers 09/222, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:vls:finstu:v:16:y:2012:i:3:p:95-103. 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: (Daniel Mateescu)
If references are entirely missing, you can add them using this form.