ECB: fiscal deficits attributable to crisis
A paper published by the European Central Bank in April studies the events that countries underwent during the global financial crisis and the implications on fiscal deficits for its budgets.
The paper examines how and to what extent these crisis-related interventions, as well as the fall-out from the recession, has had an impact on fiscal positions and endangered the longer-term sustainability of public finances in the euro area and its member countries.
Many euro-area countries have exploited
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