IMF

11 Posts

Economics Roundup: Existential Questions for Greece, Japan, and the U.S.

Economics

“To be or not to be” is not just for Hamlet, it’s the existential question of the International Swaps and Derivatives Association (ISDA), the ruling body on credit default swaps. After much ballyhoo about whether or not Greece’s restructuring would technically qualify as a default, the ISDA ruled that Greece’s restructuring in March is in fact a default, thereby triggering credit default swaps on Greece sovereign debt. Read more

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European Sovereign Debt Crisis: Overview, Analysis, and Timeline of Major Events

European Central Bank

Most commentators trace the beginning of the European sovereign debt crisis to 5 November 2009, when Greece revealed that its budget deficit was 12.7% of gross domestic product (GDP), more than twice what the country had previously disclosed. However, the real origins of the crisis can be traced to the very structures that govern Europe’s institutions. Read more

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