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The Sovereign Debt Crisis: Causes and Consequences

  • Gunther Tichy

    (WIFO)

Registered author(s):

    The quasi-global sovereign debt crisis is currently the focus of the political debate and of media attention. The origins of the crisis have long been considered too narrowly, with often one-dimensional solutions being proposed. A somewhat more comprehensive approach was first adopted at the EU Council Meetings of October and December 2011, thereby providing a major step towards the resolution of the most pressing problems. Tighter fiscal policy and more ample resources for the stabilisation fund are important moves. Nevertheless, a lasting solution must take a broader perspective and address certain deficiencies in the setup of EMU that were brought to the fore by the uneven economic performance of its members.

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    File URL: http://www.wifo.ac.at/wwa/pubid/44297
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    Article provided by WIFO in its journal Quarterly.

    Volume (Year): 17 (2012)
    Issue (Month): 2 (May)
    Pages: 95-107

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    Handle: RePEc:wfo:wquart:y:2012:i:2:p:95-107
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    1. מחקר - ביטוח לאומי, 2005. "Annual Survey 2004," Working Papers 16, National Insurance Institute of Israel.
    2. Helmuth Cremer & Pierre Pestieau, 2003. "Wealth Transfer Taxation: A Survey," Economics Working Paper Archive wp_394, Levy Economics Institute.
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    8. Gunther Tichy, 2009. "Einige unkonventionelle Gedanken zum Leben nach der Krise," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 35(4), pages 501-513.
    9. repec:mpr:mprres:4946 is not listed on IDEAS
    10. Gunther Tichy, 2009. "Einige unkonventionelle Gedanken zum Leben nach der Krise," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 35(4), pages 501-514.
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    13. מחקר - ביטוח לאומי, 2007. "Annual Survey 2006," Working Papers 20, National Insurance Institute of Israel.
    14. Fritz Breuss, 2011. "EU-Wirtschaftsregierung: Eine notwendige aber nicht hinreichende Bedingung für das Überleben der Eurozone und des Euro," FIW Policy Brief series 012, FIW.
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