By Philip Arestis, Malcolm Sawyer (eds.)
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Extra resources for The Euro Crisis
31, No. 6, pp. 863–84. Angeriz, A. and Arestis, P. (2008), ‘Assessing Inflation Targeting through Intervention Analysis’, Oxford Economic Papers, Vol. 60, No. 2, pp. 293–317. Arestis, P. (2010), ‘Interview with Philip Arestis’, Intervention. European Journal of Economics and Economic Policies, Vol. 7, No. 2, 231–6. Arestis, P. and Paúl, J. (2009), ‘Déficits en cuenta Corriente en la Unión Económica y Monetaria europea y crisis Financiera Internacional’, Ola Financiera, September–October. Arestis, P.
The D-G ECFIN ‘strives to improve the economic wellbeing of the citizens of the EU – through policies designed to promote sustainable economic growth, a high level of employment, stable public finances and financial stability. At the present juncture, this means working to ensure that the European economy emerges quickly and strongly from the present deep 32 11. 12. 13. 14. 15. 16. 17. 18. 19. The Euro Crisis economic and financial crisis’. europa. htm Similar statements are made by the Governor of the ECB at the press conference after the monthly meetings of the Governing Council of the ECB.
This would imply d – bgg = 0 and hence b = d/g / . It should be noted that a current account deficit can interact with a budget deficit in the following sense. A current account deficit and a budget deficit will be related for a given net savings position. Other things being equal (that is, net savings) then a larger current account deficit would be associated with a larger budget deficit (there is no causal link implied). The percentages mentioned in the text are from the OECD Economic Outlook data (various issues).