[Autom. eng. transl.] To understand if a country with a high public debt / GDP is really at risk a stress test would also be needed for sovereign debts, which would consider at least three other parameters: the average duration of debts, the share of public debt financed from abroad and the stock of private wealth. If, on the other hand, our public debt continues to be valued only in relation to GDP, in the event of a rapid worsening of the sovereign debt crisis and an irrational spread of fear, there will be very few alternatives to a "patrimonial", which that point will be necessary to reassure those markets to which we have not been able to explain that we are more solid than what they believe.
|Translated title of the contribution||[Autom. eng. transl.] A stress test is also needed for sovereign debt|
|Number of pages||5|
|Publication status||Published - 2011|
- European Union
- Unione europea
- debiti sovrani
- sovereign debt