About this work
Reforming Europe’s fiscal rules would not by itself solve the financing problem of peripheral sovereigns. Robin Brooks, Jonathan Fortun and Jonathan Pingle argue in August 2022 that even better estimates of economic slack leave the question of who buys new debt. Their analysis highlights reliance on ECB purchases and the need to bring private investors back.
Abstract
Reforming Europe’s fiscal rules would not by itself solve the financing problem of peripheral sovereigns. Robin Brooks, Jonathan Fortun and Jonathan Pingle argue in August 2022 that even better estimates of economic slack leave the question of who buys new debt. Their analysis highlights reliance on ECB purchases and the need to bring private investors back.
Cite this work
Robin Brooks, Jonathan Fortun, Jonathan Pingle (2022). Global Macro Views: The Euro Periphery Debt Conundrum. Institute of International Finance.