CIAO DATE: 06/2011
May 2011
Centre for European Policy Studies
As EU leaders muddle through the eurozone crisis, the debate about its root causes continues. CEPS Director Daniel Gros argues in this Policy Brief that the debate is important if we are to understand how to prevent future crises. In his view, external debt is the key to the turmoil in European economies and that the focus on total public debt is therefore misleading.
Resource link: External versus Domestic Debt in the Euro Crisis [PDF] - 144K