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Curated by Project Syndicate

The Great Debt Debate

13 commentaries

In the wake of the global economic crisis, mounting public debt, whether stemming from fiscal stimulus or bank bailouts, has forced governments in Europe, Japan, and elsewhere to pursue fiscal consolidation, with more to come, including in the US. But is immediate fiscal consolidation a false panacea? At what point, and under what conditions, do high public-debt levels really matter?

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  1. sinn88_Sean GallupGetty Images_mario draghi ecb Sean Gallup/Getty Images

    The ECB’s Beggar-thy-Trump Strategy

    Hans-Werner Sinn

    The European Central Bank's decision to cut interest rates still further and launch another round of quantitative easing raises serious concerns about its internal decision-making process. The ECB is pursuing an exchange-rate policy in all but name, thus putting Europe on a collision course with the Trump administration.


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