Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/88205 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
ROME Discussion Paper Series No. 11-04
Verlag: 
Research On Money in the Economy (ROME), s.l.
Zusammenfassung: 
The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio is above 150 percent, while the deficit to GDP ratio exceeds 10 percent. To re-establish the Maastricht criteria, respectively, strong consolidation measures need to be implemented, with potential adverse effects on the Greek economy, and further credit requirements. Therefore, a debt conversion might become a reasonable alternative. The aim of this paper is to provide some simulation-based calculations on the expected fiscal costs for the governments in the large European countries Germany, France, Spain and Italy arising from different policy options - among them a second Greek rescue package. Under realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A value-added of these calculations lies in a potential transfer to smaller euro area member countries.
Schlagwörter: 
Euro area debt crisis
debt conversation
Greece
JEL: 
F33
F34
H63
Dokumentart: 
Working Paper

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