Sovereign debt, government myopia, and the financial sector

Raghuram Rajan, Viral Acharya, 24 November 2011

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Why do governments repay external sovereign borrowing?

Topics: Taxation
Tags: debt, Government default

Was the euro a mistake?

Barry Eichengreen, 20 January 2009

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What started as the Subprime Crisis in 2007 and morphed in the Global Credit Crisis in 2008 has become the Euro Crisis in 2009. Sober people are now contemplating whether a euro area member such as Greece might default on its debt. In addition to directly damaging bank balance sheets, this would destroy confidence in its banking and financial system.

Topics: Global economy
Tags: ECB, Eurozone breakup, global crisis, Government default

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