03613cam a2200397 i 4500 119410 119410 19789445 BJBSDDR 20230805181436.0 a|||||r|||| 00| 0 ta 170717s2017 dcua 001 0 eng 2017020200 9780815730675 (cloth : alk. paper) 0815730675 (cloth : alk. paper) DLC eng DLC rda DLC eng pcc HJ 8015 C846w 2017 336.3/4 Cottarelli, Carlo, 29927 1954- What we owe : truths, myths, and lies about public debt / Carlo Cottarelli. Washington, D.C. : Brookings Institution Press, 2017. 190 pages : illustrations ; 24 cm text txt rdacontent unmediated n rdamedia volume nc rdacarrier Includes index. Introduction pt. I. The public debt problem ; 1. What is public debt? ; The surge in public debt ; How high public debt can cause a financial crises ; How high public debt can reduce economic growth ; Public debt, moral imperative and politics ; A pause to recap pt. II. The shortcuts. Printing money ; First case study : should European countries leave the Euro Zone? ; Financial repression ; Default ; Second case study : the Greek Crisis ; Debt mutualization ; Privatization pt. II. The main road. Economic growth ; A bit of austerity ; Institutional fiscal constraints Conclusion : the unbearable lightness of public debt The euro crisis, Japan's sluggish economy, and partisan disagreements in the United States about the role of government all have at least one thing in common: worries about high levels of public debt. Nearly everyone agrees that public debt in many advanced economies is too high to be sustainable and must be addressed. There is little agreement, however, about when and how that addressing should be done--or even, in many cases, just how serious the debt problem is. As the former director of the International Monetary Fund's Fiscal Affairs Department, Carlo Cottarelli has helped countries across the globe confront their public finance woes. He also had direct experience in advising his own country, Italy, about its chronic fiscal ailments. In this straightforward, plain-language book, Cottarelli explains how and why excessive public debt can harm economic growth and can lead to crises such as those experienced recently in Italy and several other European countries. But Cottarelli also has some good news: reducing public debt often can be done without trauma and through moderate changes in spending habits that contribute to economic growth. His book focuses on positive remedies that countries can adopt to deal with their public debt, analyzing both the benefits and potential downsides to each approach, as well as suggesting which remedies might be preferable in particular situations. Too often, public debate about public debt is burdened by lies and myths. This book not only explains the basic facts about public debt but also aims to bring truth and reasoned nonpartisan analysis to the debate. Debts, Public. Deudas públicas 2978 Online version: Cottarelli, Carlo, author. What we owe Washington, D.C. : Brookings Institution Press, [2017] 9780815730699 (DLC) 2017035049 7 cbc orignew 1 ecip 20 y-gencatlg lcc BK 0 0 lcc 0 0 CS BJB BJB CS 2023-05-17 0 HJ 8015 C846w 2017 00000169937 2023-05-17 00:00:00 1 2023-05-17 BK