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Home > The unpleasant legacy of the crisis: public debt and low trend growth in the Eurozone

The unpleasant legacy of the crisis: public debt and low trend growth in the Eurozone

Nicholas Crafts [1] interviewed by Viv Davies [2], 21 January 2014

Nicholas Crafts talks to Viv Davies about his recent work on the threatening issue of public debt in the Eurozone. Crafts maintains that the implicit fault line in the EZ is evident; several EZ economies face a long period of fiscal consolidation and low growth and that a different sort of central bank might be preferable. They also discuss the challenges and constraints of banking, fiscal and federal union. The interview was recorded in London on 17 January 2014.

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Topics:  Economic history [12] Macroeconomic policy [13]

Tags:  ECB [14], eurozone [15], fiscal consolidation [16], public debt [17], gold standard [18], financial repression [19], debt monetisation [20]

Crafts, N (2013b), “Saving the Euro: a Pyrrhic Victory? [21]”, CAGE-Chatham House Policy Briefing Paper No. 11.

Buiter, W and E Rahbari (2013), “Why Do Governments Default and Why Don’t They Default More Often? [22]”, CEPR Discussion Paper 9492.

Source URL: https://voxeu.org/vox-talks/unpleasant-legacy-crisis-public-debt-and-low-trend-growth-eurozone#comment-0

Links
[1] https://voxeu.org/user/219890
[2] https://voxeu.org/user/220783
[3] http://www.adobe.com/products/flashplayer/
[4] https://voxeu.org/popup/10220
[5] https://voxeu.org/audio_files/VoxEU.org_VoxTalks_20140120_1.mp3
[6] itpc://www.voxeu.org/rss.php?q=itunes_podcast
[7] https://voxeu.org/article/why-fiscal-sustainability-matters
[8] https://voxeu.org/article/consistent-trinity-eurozone
[9] https://voxeu.org/article/eurozone-if-only-it-were-1930s
[10] https://voxeu.org/article/end-eurozone-crisis-bury-debt-forever
[11] https://voxeu.org/article/escaping-liquidity-traps-lessons-uk-s-1930s-escape
[12] https://voxeu.org/content/topics/economic-history
[13] https://voxeu.org/content/topics/macroeconomic-policy
[14] https://voxeu.org/taxonomy/term/53
[15] https://voxeu.org/taxonomy/term/54
[16] https://voxeu.org/taxonomy/term/1069
[17] https://voxeu.org/taxonomy/term/1731
[18] https://voxeu.org/taxonomy/term/2397
[19] https://voxeu.org/taxonomy/term/2883
[20] https://voxeu.org/category/tags/debt-monetisation
[21] http://www2.warwick.ac.uk/fac/soc/economics/research/centres/cage/bp_cage1113.pdf
[22] http://www.cepr.org/pubs/dps/DP9492