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ROUBINI: The Debt Death Trap

The Greek financial saga is the tip of an iceberg of problems of public-debt sustainability for many advanced economies. All successful financial rescues require the country’s credible willingness to impose fiscal austerity and structural reforms, as well as massive front-loaded official support to avoid a rollover crisis of maturing public and/or private short-term debts.
Reposted by02myEcon-01 02myEcon-01
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