Dalla crisi dei debiti a quella dell'economia reale

Translated title of the contribution: [Autom. eng. transl.] From the debt crisis to that of the real economy

Marco Fortis

Research output: Working paper

Abstract

[Autom. eng. transl.] The world economy is conspicuously slowing down and the eurozone sovereign debt crisis does not seem to subside. It is especially the latter that weighs heavily on the real economy, holding back not only European performance but also that of the world as a whole. The Eurozone is in crisis not because it has a worrying private debt nor because its total public debt in relation to GDP is exploding; Europe pays rather for the lack of governance up to the challenge. In recent years, when their economies were on the ropes and their banks "jumped" or were forced to be nationalized, the US and Britain opportunistically put hay in the barn. Whether this type of behavior is correct or not, these countries have paid their debts with "paper" printed by the respective central banks, not with "real" money, while the Eurozone was and is instead entirely taken by German rigorism and from the objective of reducing state deficits through "real" sacrifices required of citizens. A policy that has "plastered" the real economy and transformed the sovereign crisis of the "boil" Greece into a deadly infection that threatens to lead to the amputation of the single currency in one euro in the North and one in Southern Europe.
Translated title of the contribution[Autom. eng. transl.] From the debt crisis to that of the real economy
Original languageItalian
Number of pages4
Publication statusPublished - 2012
Externally publishedYes

Keywords

  • European sovereign debt crisis
  • crisi del debito sovrano europeo
  • economia reale
  • quantitative easing
  • real economy

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