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Banking fragility rooted in justice failures Evidence from Ukraine
Policy Contribution

External versus Domestic Debt in the Euro Crisis

25 May 2011

External versus Domestic Debt in the Euro Crisis

As EU leaders muddle through the eurozone crisis, the debate about its root causes continues. CEPS Director Daniel Gros argues in this Policy Brief that the debate is important if we are to understand how to prevent future crises. In his view, external debt is the key to the turmoil in European economies and that the focus on total public debt is therefore misleading.


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External versus Domestic Debt in the Euro Crisis
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