Fighting the wrong enemy

de Grauwe, Paul

(2010) Fighting the wrong enemy VoxEU.

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A government debt crisis is ravaging the Eurozone. This column argues that its cause is misunderstood. The culprit is a profligate private banking sector that has put strain on otherwise manageable government finances. The increase in debt has reached crisis point because the Eurozone is a monetary union without being a political union – it has no fire brigade to put out the fire.

Item Type	Article
Copyright holders	© 2010 VoxEU.org
Departments	European Institute
Date Deposited	08 Oct 2012 09:41
URI	https://researchonline.lse.ac.uk/id/eprint/46643

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de Grauwe, Paul

http://www.lse.ac.uk/european-institute/people/academic-staff/de-grauwe-paul.aspx (Author)
http://www.voxeu.org/article/europe-s-private-versus-public-debt-problem-fighting-wrong-enemy (Publisher)
http://www.voxeu.org/ (Official URL)

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