The euro- area crisis is not a ‘sovereign debt’ crisis, as the conventional view depicts it. As a number of non- mainstream economists have been explaining since the euro- area crisis broke out (at the end of 2009), this crisis is the result of unsustainable macro- economic imbalances across the private sector of the euroarea, which have built up and remained largely unaddressed in the fi rst ten years of the European Monetary Union (EMU).
Mastromatteo, G., Rossi, S., The mirage of expansionary fiscal consolidation to resolve the euro-area crisis, in Power K., A. T. L. E. (ed.), Discourse Analysis and Austerity: Critical Studies from Economics and Linguistics, Routledge, Londra 2019: 253- 266 [http://hdl.handle.net/10807/129588]
The mirage of expansionary fiscal consolidation to resolve the euro-area crisis
Mastromatteo, GiuseppePrimo
;
2019
Abstract
The euro- area crisis is not a ‘sovereign debt’ crisis, as the conventional view depicts it. As a number of non- mainstream economists have been explaining since the euro- area crisis broke out (at the end of 2009), this crisis is the result of unsustainable macro- economic imbalances across the private sector of the euroarea, which have built up and remained largely unaddressed in the fi rst ten years of the European Monetary Union (EMU).
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