Broner, Fernando A; Erce, Aitor; Martin, Alberto; … - C.E.P.R. Discussion Papers - 2013
times, sovereign debt offers a higher expected return to domestic creditors than to foreign ones. This provides incentives …In 2007, countries in the euro periphery were enjoying stable growth, low deficits, and low spreads. Then the Financial … crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe …