HomeBook seriesEuropEos CommentariesThe role of politicians in inciting financial markets to attack the eurozone
The role of politicians in inciting financial markets to attack the eurozone
By Jacopo Carmassi and Stefano Micossi
Date of publication:
21 June 2010
Pages:
6 While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire. By creating the impression that domestic political interests would take precedence over orderly management of the Greek debt crisis, they raised broader doubts about their ability to address fundamental economic divergences within the area, which are the real source of debt sustainability problems in the medium term.
Jacopo Carmassi is an economist at Assonime. Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
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€ 0.00
Date of publication:
21 June 2010
type:
PDF file
Pages:
6 | Attachment | Size | Hits | Last download |
|---|---|---|---|
| Role of politicians in inciting financial markets _3_.pdf | 481.46 KB | 263 | 2 hours 25 min ago |
While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire. By creating the impression that domestic political interests would take precedence over orderly management of the Greek debt crisis, they raised broader doubts about their ability to address fundamental economic divergences within the area, which are the real source of debt sustainability problems in the medium term.
Jacopo Carmassi is an economist at Assonime. Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
Date of publication:
21 June 2010
Pages:
6 While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire. By creating the impression that domestic political interests would take precedence over orderly management of the Greek debt crisis, they raised broader doubts about their ability to address fundamental economic divergences within the area, which are the real source of debt sustainability problems in the medium term.
Jacopo Carmassi is an economist at Assonime. Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
€ 0.00
Date of publication:
21 June 2010
type:
PDF file
Pages:
6 | Attachment | Size | Hits | Last download |
|---|---|---|---|
| Role of politicians in inciting financial markets _3_.pdf | 481.46 KB | 263 | 2 hours 25 min ago |
While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire. By creating the impression that domestic political interests would take precedence over orderly management of the Greek debt crisis, they raised broader doubts about their ability to address fundamental economic divergences within the area, which are the real source of debt sustainability problems in the medium term.
Jacopo Carmassi is an economist at Assonime. Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
€ 0.00
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| Role of politicians in inciting financial markets _3_.pdf | 481.46 KB |
While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire. By creating the impression that domestic political interests would take precedence over orderly management of the Greek debt crisis, they raised broader doubts about their ability to address fundamental economic divergences within the area, which are the real source of debt sustainability problems in the medium term.
Jacopo Carmassi is an economist at Assonime. Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
€ 0.00
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21 June 2010
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PDF file
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6 | Attachment | Size |
|---|---|
| Role of politicians in inciting financial markets _3_.pdf | 481.46 KB |
While acknowledging that the sustainability of sovereign debt is a serious issue that must be confronted, this EuropEos Commentary finds that financial markets have blown the problem completely out of proportion, leading to a full-scale confidence crisis. The authors present evidence suggesting that politicians’ public disagreements and careless statements at critical junctures may have added oil to incipient fire. By creating the impression that domestic political interests would take precedence over orderly management of the Greek debt crisis, they raised broader doubts about their ability to address fundamental economic divergences within the area, which are the real source of debt sustainability problems in the medium term.
Jacopo Carmassi is an economist at Assonime. Stefano Micossi is Director General of Assonime and a member of the CEPS Board of Directors.
Date of publication:
21 June 2010
type:
PDF file
Pages:
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