European Sovereign Debt Crisis
Michael Boruta
Broschiertes Buch

European Sovereign Debt Crisis

No Two PIIGS the Same

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Financial crisis exposed the bad state of European public finance. Budget deficits are so domesticated in Europe, that it is hard nowadays to encounter a budget surplus, or at least a balanced budget. Greece once again entered the history, but this time Greeks have absolutely nothing to be proud of. Financial crisis has reintroduced phenomenon known only from war periods - heavily indebted rich countries. European Union never imagined such situation could occur and threaten the existence of the Eurozone itself. There was no plan B. In my work I analyze the process of finding the plan B. Hundre...