Sovereign Debt Crisis "The New Normal and the Newly Poor"

The New Normal and the Newly Poor

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Chorafas, Dimitris N.

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ISBN:9780230298408
Editorial: Palgrave
Fecha de la edición:2011
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Dimensiones: 0 cm x 0 cm
Nº Pág.:288
Idiomas:Ingles,Inglés

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This book is about sovereign debt, fiscal deficits, the newly poor and the deceit of the State Supermarket. The issues confronting the global economy, particularly America, Europe and Japan, are inseparable from the current lack of social and political leadership as well as of a credible plan to deal with the mountains of debt amassed by sovereigns, households and companies, particularly banks. The many practical examples in the book expose the situation into which western society has cornered itself. It offers advice on how to rise up from this, even if it means slaughtering unaffordable endowments, unwarranted government rescues, and other proliferating but unsustainable big spending projects. Sovereign Debt Crisis considers the risks of losing sight of past failures, and our society's ability to solve its problems, with debt heading the list.

PART I: FINANCIAL RISKS WHICH KEPT PILING UP The World's New Normal Economic System The Newly Poor The Salient Problem is Rights without Responsibilities PART II: LOOSE MONETARY AND FISCAL POLICIES LEAD TO THE DESTRUCTION OF WEALTH Japanification Conventional and Unconventional Weapons in a Central Bank's Arsenal Fiscal Policies, Spending Policies and Conflicting Aims Restructuring Sovereign Balance Sheets PART III: EUROLAND'S FINANCIAL INTEGRATION AND SOVEREIGN RISK Woes of Euroland's Financial Integration Sovereign Risk: Case Study on Greece Germany, France, Britain, Ireland and 'Club Med' PART IV: THE NEW NORMAL'S EFFECT ON THE WESTERN ECONOMY The North Atlantic Similarities are Greater Than You Think The Eu's Banking Industry and its Stress Testing The Global Systemic Risk has been Programmed for 2014