Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/129936
Authors: 
Ramos-Francia, Manuel
Aguilar-Argaez, Ana María
García-Verdú, Santiago
Cuadra, Gabriel
Year of Publication: 
2014
Series/Report no.: 
Working Papers, Banco de México 2014-17
Abstract: 
We compare the experience of Latin American external debt crises, in particular the one in the 80s, with the current European one. We do so with the aim of shedding some light on the needed adjustment mechanisms. We argue for the need of much larger debt relief in Europe. To address the moral hazard problems that would arise, we propose providing such relief conditional on the reduction of both the fiscal and the current account deficits to zero as a commitment signal.
Subjects: 
Sovereign Debt
Debt Crisis
Crisis Management
JEL: 
F34
H12
H63
Document Type: 
Working Paper
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