Resolving the European Debt Crisis

by Cline, William R.; Wolff, Guntram B.

• ISBN13: 9780881326420
• ISBN10: 0881326429
• Format: Paperback
• Copyright: 2012-03-15
• Publisher: Peterson Inst for Intl Economics

Summary

Resolving the European Debt Crisis

Author Biography

William R. Cline has been a senior fellow at the Peterson Institute for International Economics since its inception in 1981. During 1996-2001, while on leave from the Institute, he was deputy managing director and chief economist of the Institute of International Finance. He is the author of 24 books, including Financial Globalization, Economic Growth, and the Crisis of 2007-09. Guntram B. Wolff is deputy director of Bruegel. He joined Bruegel from the European Commission, where he worked on the macroeconomics of the euro area and the reform of euro area governance. Previously he was coordinator of research on fiscal policy at the Deutsche Bundesbank and worked as an adviser to the International Monetary Fund.

Table of Contents

Preface	p. v
Overview	p. 1
Political-Economic Environments
Greece in the Euro Area: Odd Man Out, or Precursor of Things to Come	p. 19
Political-Economic Context in Ireland	p. 37
Understanding Portugal in the Context of the Euro Crisis	p. 51
Italy and the Euro Crisis	p. 95
Spain and the Euro Area Sovereign Debt Crisis	p. 109
France, the State, and Globalization	p. 131
The Political Economy of Germany in the Sovereign Debt Crisis	p. 143
Lessons from Past Debt Crises
How to Do a Sovereign Debt Restructuring in the Euro Area: Lessons from Emerging-Market Debt Crises	p. 165
Sovereign Debt Restructuring: The Legal Context	p. 187
Pros and Cons of Alternative Policy Options
Alternative Strategies for Resolving the European Debt Crisis	p. 197
The Euro Area Crisis: Policy Options Ahead	p. 235
Comments on Policy Strategies	p. 253
Does the Euro Have a Future?	p. 257
Policy Simulation Game
The Simulation Exercise: A Real Time Economic and Political Stress Test	p. 265
About the Contributors	p. 275
Index	p. 281
Table of Contents provided by Ingram. All Rights Reserved.