Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/66532 
Year of Publication: 
2010
Citation: 
[Journal:] Intereconomics [ISSN:] 1613-964X [Volume:] 45 [Issue:] 4 [Publisher:] Springer [Place:] Heidelberg [Year:] 2010 [Pages:] 196-202
Publisher: 
Springer, Heidelberg
Abstract: 
American commentators have criticized European leaders for failing to deal firmly and swiftly with the eurozone's sovereign debt crisis. These commentators forget the lessons of American history. The United States experienced a similar crisis following the financial panic of 1837. Eight states defaulted and political turmoil intensified, undermining stability in several states and the federal system itself. The restoration of economic and political order was a prolonged and painful process, as enraged voters confronted the costs of inaction and accepted new constraints on democratic processes. Will the European crisis play out similarly?
Persistent Identifier of the first edition: 
Document Type: 
Article
Document Version: 
Published Version

Files in This Item:
File
Size
117.18 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.