The austerity debate is beside the point for Europe

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Series Details 8 May 2013
Publication Date 08/05/2013
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Abstract:

In surveying the heated debate in the eurozone about austerity and the cost of high public debt, this CEPS Commentary suggests that the influential paper by Carmen Reinhard and Kenneth Rogoff misses the key point that public debt owed to foreigners is different from debt owed to residents.

Source Link http://aei.pitt.edu/42069/1/DG_Commentary_External_vs_Domestic_Debt.pdf
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