28 10 2014

Europe's Fiscal Wormhole
by Guntram B. Wolff



BRUSSELS – The International Monetary Fund now estimates a 30% risk of deflation in the eurozone, and growth figures within the monetary union continue to disappoint. But policymakers seem trapped in a cat’s cradle of economic, political, and legal constraints that is preventing effective action. The fulfillment of policy rules appears...

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