Tracking the causes of Eurozone external imbalances: New evidence

Jose Luis Diaz Sanchez, Aristomene Varoudakis, 6 February 2014

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The Eurozone sovereign debt crisis, triggered by the 2008–09 global financial crisis, exposed macroeconomic imbalances in member countries that had accrued gradually following the advent of the euro in 1999.

Topics: International finance
Tags: competitiveness, European sovereign debt crisis, eurozone, global financial crisis, global imbalances

Tax evasion and austerity-plan failure

Francesco Pappadà, Yanos Zylberberg, 3 February 2014

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Austerity plans in southern European countries (Greece, Portugal, Spain, and Italy) have so far yielded mixed results (Salto 2013). On the one hand, the primary budget balances of these countries have improved, and their risk premiums are now stabilised at a much lower level than during the crisis peak.

Topics: Financial markets, Taxation
Tags: austerity, credit, European sovereign debt crisis, Greece, tax evasion, transparency, VAT

Privatisation and debt: Lessons from Greece’s fiasco

Paolo Manasse, 31 January 2014

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In the midst of the European debt crisis, it is tempting to think that high-debt countries could alleviate the recessionary impact of the budget-consolidation process by selling (poorly managed) assets and stakes in their state-owned enterprises (SOEs), and by using the proceeds to buy back their debts (Hope 2011).

Topics: Financial markets, International finance
Tags: debt, European sovereign debt crisis, Greece, privatisation, sovereign debt

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