The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Ireland is somewhat unique in the -zone for having a genuine debt crisis. Greece, Spain and Portugal (and soon Belgium) are experiencing currency crises (similar to the one that caused the UK to leave the ERM back in 1992). ... Ireland runs a respectable trade surplus w.r.t. the rest of the -zone
I'd say Belgium is special, too. They have historically had more than 100% debt-to-GDP ratio...
Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
What is true is that in the present crisis it looks very much like the deficit countries are having a currency crisis (because the attacks are highly correlated with foreign debts and current accounts deficits, and only weakly correlated with sovereign debts and deficits), and it looks very much like Ireland is having a genuine debt crisis (since its banks are insolvent following a real estate bubble that was not an obvious macroeconomic necessity).
Austerity can only be implemented in the shadow of a concentration camp.
by Cyrille - Apr 12 26 comments
by DoDo - Apr 6 39 comments
by Cyrille - Apr 8 6 comments
by ARGeezer - Mar 31 10 comments
by Zwackus - Mar 29 8 comments
by aquilon - Apr 3 156 comments
by Xavier in Paris - Mar 27 5 comments
by ManfromMiddletown - Mar 20 66 comments
by Oui - Apr 16
by Cyrille - Apr 1226 comments
by Cyrille - Apr 86 comments
by DoDo - Apr 639 comments
by aquilon - Apr 3156 comments
by ARGeezer - Mar 3110 comments
by Zwackus - Mar 298 comments
by DoDo - Mar 279 comments
by Xavier in Paris - Mar 275 comments
by ManfromMiddletown - Mar 2066 comments
by DoDo - Mar 1818 comments
by ARGeezer - Mar 1737 comments