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Fighting the wrong enemy

de Grauwe, Paul (2010) Fighting the wrong enemy. Vox.

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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
Sets: Departments > European Institute
Collections > Economists Online
Date Deposited: 08 Oct 2012 09:41
Last Modified: 19 Jul 2019 23:05
URI: http://eprints.lse.ac.uk/id/eprint/46643

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