000			02855cam a2200373 i 4500
999			_c96019 _d96019
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005			20230410143121.0
007			ta
008			140313s2014 dcu b 001 0 eng
020			_a9780881326871
040			_bspa _cBJBSDDR
041	0		_aeng
050	0	0	_aHJ 8615 _bC641m 2014
082	0	0	_a336.3
100	1		_aCline, William R. _d1941-
245	1	0	_aManaging the euro area debt crisis / _cWilliam R. Cline.
264		1	_aWashington, DC : _bPeterson Institute for International Economics, _c2014.
300			_axvii, 218 pages ; _c23 cm.
336			_atext _btxt _2rdacontent
337			_aunmediated _bn _2rdamedia
338			_avolume _bnc _2rdacarrier
504			_aIncludes bibliographic references (pages 201-209) and index.
505	0		_aOverview and policy implications -- Fiscal adjustment, growth, and default risk -- The bank-sovereign debt nexus -- External adjustment : breakup costs -- Eurobonds, firewalls, OMT, and debt restructuring -- Projections with the European debt simulation model : Ireland, Italy, Portugal, and Spain -- Debt restructuring and economic prospects in Greece.
520			_aFirst came the financial and debt crisis in Greece, then government financing difficulties and rescue programs in Ireland in 2010 and Portugal in 2011. Before long, Italy and Spain were engulfed by financial contagion as well. Finally in 2012, the European Central Bank pledged to do "whatever it takes" to preserve the euro area with purchases of government bonds, a step that achieved impressive results, according to William R. Cline in this important new book. One of the world's leading experts on fiscal and debt issues, Cline mobilizes meticulously researched and forceful arguments to trace the history of the euro area debt crisis and makes projections of future debt sustainability. He argues that euro area leaders made the right decision to keep the euro from breaking apart but warns against complacency about the future. Cline contends that troubled European economies should continue their fiscal consolidation but that further debt restructurings for most countries are not called for. Greece is a special case and may need some further debt relief contingent on continued progress on fiscal and structural reform, however. In this landmark study, Cline offers a detailed analysis of the mistakes, successes, and options for Europe as it struggles to overcome its worst economic disaster since World War II.
650		0	_aDebts Public _zEuropean Union countries.
650		0	_aMonetary policy _zEuropean Union countries
650		0	_aCurrency crises _zEuropean Union countries.
650		0	_aDeudas públicas _92978
650		0	_aPolítica monetaria _91662
650		0	_aCrisis monetaria. _92979
651		0	_aEuropean Union countries _xEconomic policy.
942			_2lcc _cBK
946			_aSH