Publication
Mar 2010
This paper describes the key economic variables and mechanisms that will determine the adjustment process in those euro area countries now under financial market pressure (Greece, Ireland, Portugal, Spain and ItalY = GIPSY). The key finding is that the adjustment will be particularly difficult for Greece (and Portugal) because these are two relatively closed economies with low savings rates.
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English (PDF, 21 pages, 925 KB) |
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Author | Daniel Gros |
Series | CEPS Working Documents |
Issue | 326 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2010 Centre for European Policy Studies (CEPS) |