Adjustment in Euro Area Deficit Countries : Progress, Challenges, and Policies by Thierry Tressel, Shengzu Wang, Joong Shik Kang

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Adjustment in Euro Area Deficit Countries : Progress, Challenges, and Policies

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro area “deficit economies” (Greece, Ireland, Portugal, and Spain) that accumulated large current account deficits and external liability positions in the run-up to the crisis.

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro area “deficit economies” (Greece, Ireland, Portugal, and Spain) that accumulated large current account deficits and external liability positions in the run-up to the crisis.

Publisher: International Monetary Fund ISBN: 9781498362900 Pages: 34