 L'Italia: una crisi nella crisiCarlo D'Ippoliti and Alessandro Roncaglia Moneta e Credito, 2011, vol. 64, issue 255, 189-227 Abstract: The article synthesises the large and extending literature on the financial and economic crisis from a Post-Keynesian point of view. The authors take on the position that the international and internal real imbalances are serious and worrying, but yet they are not the cause of the crisis or of its tremendous dimension. The flawed and insufficient regulation of finance is the prime cause of the crisis, as well as it is one of the main hindrances to expansionary macroeconomic policies that may less painfully drive developed countries out of the crisis. It then examines the most recent developments in the euro-area, claiming that we are not facing a sovereign debt crisis but rather a speculative attack on the euro. Finally, the article considers specifically the situation of Italy, currently at the hearth of such an attack, and suggests that the country was already facing critical developments before the 2007/2008 crisis. Thus, the policy measures so far suggested to exit the current stressful situation, in so far as they ignore this fact, seriously run the risk of proving insufficient or altogether noxious. Keywords: crisis; euro; sovereign; Italy; credit default swaps (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:psl:moneta:2011:31 Ordering information: This journal article can be ordered from Access Statistics for this article Moneta e Credito is currently edited by Alessandro Roncaglia and Carlo D'Ippoliti More articles in Moneta e Credito from Economia civile |
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