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Eurozone crisis: Looking back to the future

Kaminsky, Graciela L., (2015),  “Eurozone crisis: Looking back to the future”, Voxeu, 8 Νοεμβρίου

The Eurozone crisis is still lingering. While in the last couple of months only Greece’s debt woes have been at the centre of public attention, vulnerabilities across countries in the Eurozone are not fading away. Europe is still mired in a long depression, and debt problems are still escalating. While it is true that Ireland, Portugal, and Spain managed to exit their bailouts and Cyprus has recently announced that it intends to do the same, their debt problems are still lingering with debt/GDP ratios at around 100% or more. But the list does not end with the bailout countries. We could add Belgium, France, and Italy to this list of debt-ridden countries. What is the scope of this crisis?

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