Publication
May 2011
This paper describes four key drivers behind the adjustment difficulties in the periphery of the eurozone (Greece, Ireland, Portugal and Spain). The authors highlight the importance of foreign debt and external adjustment. The corollary of their analysis is that this should be taking into account in the adjustment programmes that the GIPS countries have to accept.
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English (PDF, 27 pages, 951 KB) |
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Author | Daniel Gros, Cinzia Alcidi |
Series | CEPS Working Documents |
Issue | 347 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2011 Centre for European Policy Studies (CEPS) |