Series: IMF Working Papers
Author(s): Fernando Broner , Aitor Erce , Alberto Martin , and Jaume Ventura
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 27 December 2013
Keywords: rollover crises, secondary markets, economic growth., domestic creditors, domestic debt, debt crises, public debt, International Lending and Debt Problems, Financial Aspects of Economic Integration, Open Economy Macroeconomics
In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. B...