Excessive Imbalances and Debt Crisis in the Eurozone

Juraj Sipko
2013 Proceedings of the 2013 International Conference on Information, Business and Education Technology (ICIBET-2013)   unpublished
The main goal of the paper is to analyze the key factors that contributed to the macroeconomic imbalances and their impact on the debt crisis in the eurozone countries. Regression and correlation analysis indicated statistically significant relations between the key macroeconomic indicators, such as the current account, net international investment position, fiscal deficit and public debt. The paper found excessive imbalances within the eurozone countries. The study came to the conclusion that
more » ... he conclusion that those countries that lost their competitiveness had external deficits, which caused fiscal deficits, and overall fiscal unsustainability. Therefore, to put the economy of eurozone countries on sustainable path a comprehensive reform agenda should be put in a place, mainly, medium-term fiscal consolidation plan, including structural reform in all eurozone countries.
doi:10.2991/icibet.2013.41 fatcat:cek366ylzrbw7ihpgenoxb6qcm