Krugman says ‘Greek-style’ crisis in US or UK would have ‘expansionary effect’

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Nobel prize-winning economist Paul Krugman will attack the idea that a "Greek-type" sovereign debt crisis is likely "or even possible" in countries with their own currencies and floating exchange rates in a speech at the International Monetary Fund (IMF) annual research conference in Washington DC later today.

"Evidence on interest rates - both from cross-section comparisons and from behaviour over time - strongly suggests that the currency regime matters a great deal in determining the likeliho

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