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The Maastricht Treaty on Europe Union features an Excessive Deficit Procedure limiting the freedom to borrow of governments participating in the European monetary union. One justification is to prevent states from over- borrowing and demanding a bailout which could divert the European Central...
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The Maastricht Treaty on Europe Union features an Excessive Deficit Procedure limiting the freedom to borrow of governments participating in the European monetary union. One justification is to prevent states from over- borrowing and demanding a bailout which could divert the European Central...
Persistent link: https://www.econbiz.de/10013249559
Debt in service of the state -- States and the limits of borrowing -- Democratization and globalization -- Caveat emptor -- Managing problem debts -- Successful consolidation -- Warfare to welfare -- Cycles of debt -- Oil and water -- Missed opportunities -- Debt to the rescue -- COVID-19.
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a panel of debt consolidation episodes spanning 220 years and 183 nations. The evidence confirms that moderate inflation … consolidations was lower in periods of relatively high inflation, when interest rates show a tendency to quickly catch up. The … largest concentration of debt consolidations in fact coincides with periods of relatively low and stable inflation in the …
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