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Book

The Sovereign Debt Crisis

Placing a curb on growth

by Anton Brender / Florence Pisani / Emile Gagna
15 May 2012

The Sovereign Debt Crisis

Placing a curb on growth

Anton Brender / Florence Pisani / Emile Gagna

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To ward off the threat of a worldwide depression that loomed at the end of the 2000s, governments opted to run up substantial fiscal deficits. In doing so, they sowed the seeds of the sovereign debt crisis. Saddled with often high debt burdens and modest growth prospects, developed countries’ governments must now rebalance their budgets. Doing so too rapidly, however, will choke growth. Faced with this dilemma, Japan and the United States have pursued growth policies while the euro area members are quickly trying to rebalance their budgets. This book explores the respective risks associated with these two strategies. It further investigates the consequences for the international monetary and financial system of developing countries’ public debts ceasing to be risk-free.

All three authors – Anton Brender, Florence Pisani and Emile Gagna – are economists with an asset management company. Mr. Brender and Ms. Pisani also teach at Paris-Dauphine University.


About the Authors


  • Author
    Anton Brender
    Anton Brender
  • Author
    Florence Pisani
    Florence Pisani
  • Author
    Emile Gagna
    Emile Gagna
The Sovereign Debt Crisis Placing a curb on growth
Download Publication

5916 Downloads