The North Atlantic Similarities are Greater than you Think

Dimitris N. Chorafas

Chapter 11 in Sovereign Debt Crisis, 2011, pp 193-211 from Palgrave Macmillan

Abstract: Abstract The European Union’s problems of sovereign risk, which Part III brought to the reader’s attention, find their equivalents across the North Atlantic. Though the underlying reasons are not precisely the same, the EU and the United States share many of the same challenges. What is common between them is more important, and it presents itself more frequently, than what is different. Compared with the EU, the USA has two advantages: it is home to the world most liquid asset market; and the dollar acts both as reserve currency1 and currency in which global commodities are denominated.

Keywords: Monetary Policy; Central Bank; Federal Reserve; Sovereign Debt; Western Economy (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-30712-4_11

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DOI: 10.1057/9780230307124_11

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