Public debt dynamics of Europe and the US / Dimitris N. Chorafas
| Publisher | (Chennai : Elsevier) |
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| Year | 2013 |
| Authors | *Chorafas, Dimitris N. author |
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| Links to the text | Location | Volume | Call No. | Barcode No. | Status | Comments | ISBN | Printed | Restriction | Reserve |
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| Links to the text | Library Off-campus access |
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OB00177875 | ScienceDirect (電子ブック) | 9780124200272 |
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| Material Type | E-Book |
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| Media type | 機械可読データファイル |
| Size | 1 online resource |
| Notes | Public Debt Dynamics of Europe and the U.S., provides the evidence and implications of current policies by sovereigns and central banks, in dealing with the debt abyss. It brings in perspective the diversity of opinion reigning in modern economics and finance and outlines the themes which, among themselves, are defining the society in which we live. Our epoch has accepted the theory that leveraging is good for a person, a company or even a nation. This has led to the debt syndrome and its disastrous aftereffects. Throughout the book evidence emerges that piling up public debt can lead to an unmitigated disaster. This is demonstrated through case studies on Greece, Spain, Italy, France and the United States - in short, those western countries that nowadays have lost control of their senses and of their economy. This book uses real life examples, using case studies as evidence of good and bad approaches to social, economic and financial life. Live events also help as undisputable demonstrators of successes and failures in the search for solutions in getting out of the hole western governments find themselves. As Denis Healey, a former British chancellor of the Exchequer, once said: "The first law of holes is that if you are in one stop digging. Provides insight and implications on the current policies of sovereigns and central banksUses real life practical examples and case studies on Greece, Spain, Italy, France and the United States. Examines developing countries, particularly BRICS, and their exposure to debt. Focuses on public health and the effects it has on the economy Print version record Front Cover; Public Debt Dynamics of Europe and the US; Copyright Page; Contents; Preface; One: The West Today; 1 Globalization of a Casino Society; 1.1 "My Lord," Answered Solon to King Croesus, "You Are Asking Me What I Think of Human Life"; 1.2 Globalization Worked As Long As It Worked; 1.3 The Web of Debt Has Led to Slavery; 1.4 Policies That Brought Us to a Mess; 1.5 Leveraging and Getting Deeper into Debt; 1.6 Tic, Tac, Tic, Tac ... The New Bubble Builds Up; End Notes; 2 Kingdoms of Debt; 2.1 Debt and Growth; 2.2 Debt and Decline; 2.3 The Debt Reduction Pact for Europe, Real or Fancy? 2.4 Outright Monetary Transactions Mean Debt to Infinity2.5 The End of ECB As We Knew It; 2.6 Still, the Big Short Is Europe; End Notes; 3 Options for this Decade; 3.1 Three Main Options for the Next Years; 3.2 "The Worst Is Over" Is a Defeatist Slogan; 3.3 The Italian Government's Daisy-Chain; 3.4 Banks Did Not Deserve the Bailout; 3.5 Political Backing for Financial Stability Has Declined; 3.6 Reinventing Personal and Collective Irresponsibility; 3.7 Conclusions; End Notes; Two: Destiny in the Land of Homer; 4 The Greek Economy Pays the Price of Drift 4.1 "My Lord," Said Demaratus to King Xerxes, "Do You Want Me to Tell You the Truth or Flatteries?"4.2 The Target Should Be Competitiveness; 4.3 Fakelakia and the Wages of Corruption Buy Yachts; 4.4 Coming Up from Under Is a Tough Job; 4.5 Private Sector Involvement in Downsizing the Greek Debt; 4.6 The PSI's 73.5 Percent Writedown Did Not Really Help Greece; 4.7 Credit Events and Bonanzas for Speculators; End Notes; 5 Impact of Bailouts on the Economy of a Sovereign; 5.1 Bailout Fatigue; 5.2 Aristophanes, Euroland, and Greece Today; 5.3 State of Politics and of Sovereign Debt 5.4 Restructuring Efforts Don't Necessarily Provide Expected Results5.5 Rescue Funds Can Turn into Monkey Money; 5.6 Using CDSs as Predictors; End Notes; 6 Drachmageddon: Exit from Euroland and Bankruptcy? Or Bankruptcy Within Euroland?; 6.1 Drachmageddon; 6.2 Exit from Euroland?; 6.3 Cost of an Uncontrolled Exit; 6.4 Parallel Currencies; 6.5 Myths and Realities About Sovereign Bailouts; 6.6 Bankruptcy Is No More a Dirty Word; 6.7 The Difficulties Greece Encounters Are Extreme, Not Unique; 6.8 Conclusion: Oedipus at Colonus?; End Notes; Three: Case Studies with Teetering Sovereigns 7 Spain in Free Fall7.1 Spain Is in the Danger Zone; 7.2 Internal Devaluation Would Have Been the Better Solution; 7.3 The Spanish Government Is Not in Charge; 7.4 Investors Fear Spain Will Battle Against Austerity; 7.5 Spanish Banks and Euroland's Taxpayers; 7.6 In Financial Terms Spanish Banks Wounded Their Clients; 7.7 Bad Banks and Wanting Spanish Fiscal Policies; End Notes; 8 Italy Tries a U-Turn on the Road to Nowhere; 8.1 Public Debt Is Mounting, Growth Is Elusive, and the Country Has Been 124 Days Without a Government; 8.2 Italian Premium and Spanish Premium Elsevier ScienceDirect All Books HTTP:URL=https://www.sciencedirect.com/science/book/9780124200210 |
| Subjects | FREE:Europa LCSH:Debts, Public FREE:BUSINESS & ECONOMICS -- Public Finance All Subject Search FREE:Debts, Public FREE:Öffentliche Schulden FREE:USA FREE:Electronic books |
| Classification | LCC:HJ8011 DC23:336.34 |
| ID | 8000079980 |
| ISBN | 9780124200272 |
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