Category: Think Tank

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One Response to “Slow Moving Debt Crises”

  1. DeDude says:

    It seems to me that they left out the most important thing. The ability to issue your own currency. That allows the country to “pay down” its debt by letting inflation and negative real interest rates eat away the old debt (and letting currency rates increase its competitiveness, and tax income, without needing to become more efficient). This is how Italy and Greece used to deal with unbalanced economies. Having been robed of that tools is the main reason they are now in trouble.