de Grauwe, Paul 
ORCID: 0000-0001-5225-1301
(2010)
Fighting the wrong enemy.
VoxEU.
Abstract
A government debt crisis is ravaging the Eurozone. This column argues that its cause is misunderstood. The culprit is a profligate private banking sector that has put strain on otherwise manageable government finances. The increase in debt has reached crisis point because the Eurozone is a monetary union without being a political union – it has no fire brigade to put out the fire.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.voxeu.org/ |
| Additional Information: | © 2010 VoxEU.org |
| Divisions: | European Institute |
| Subjects: | H Social Sciences > HG Finance J Political Science > JZ International relations |
| JEL classification: | F - International Economics > F3 - International Finance > F36 - Financial Aspects of Economic Integration G - Financial Economics > G2 - Financial Institutions and Services > G20 - General H - Public Economics > H6 - National Budget, Deficit, and Debt > H63 - Debt; Debt Management |
| Date Deposited: | 08 Oct 2012 09:41 |
| Last Modified: | 11 Sep 2025 07:56 |
| URI: | http://eprints.lse.ac.uk/id/eprint/46643 |
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