From financial crash to debt crisis

Carmen M Reinhart interviewed by Romesh Vaitilingam, 9 Apr 2010

Carmen Reinhart of the University of Maryland talks to Romesh Vaitilingam about the sequencing of the cycle of debt build-ups – from private debt surges to banking crises to sovereign debt crises – and the four ‘deadly D’s’ that once again threaten many governments as a consequence of the current crisis – deficits, debt, downgrade and default. The interview was recorded at the Royal Economic Society’s annual conference at the University of Surrey in March 2010.


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Topics: Financial markets, Global crisis, Macroeconomic policy
Tags: banking crises, debt, sovereign debt

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As argued in an earlier commentary, the financial crisis exposed important economic inconsistencies in the way that EMU operated.1 Although progress has been made, the reality is that more needs to be done.

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Tags: banking union, debt, EMU, euro, eurozone, Eurozone crisis, fiscal consolidation, fiscal policy, imbalances, internal devaluation, Stability and Growth Pact, structural reforms

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Tags: debt, European sovereign debt crisis, Greece, privatisation, sovereign debt

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Topics: Financial markets, Poverty and income inequality
Tags: credit rationing, debt, Inequality, subprime mortgage crisis, US

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Topics: Macroeconomic policy
Tags: debt, democracy, fiscal discipline, fiscal policy, time inconsistency

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Topics: Macroeconomic policy
Tags: austerity, debt, growth

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Tags: business cycles, debt, financial crises, fiscal space

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