Andini, Corrado; Cabral, Ricardo - Institute for the Study of Labor (IZA) - 2012
with the IMF, based on further austerity and wage cuts, will worsen the crisis. They are unlikely to reduce both sovereign …This note argues that the solutions to the euro-area crisis proposed by the EU governing institutions in cooperation … and external debt ratios of countries experiencing these problems. Quite in contrary, they are likely to further reduce …