So… What Really Caused the Crisis?
23 Setembro, 2011 at 8:47 pm Deixe o seu comentário
Putting it all together, it seems that the EZ crisis is more consistent with the systemic causes view than the local causes view. In other words, while they didn’t necessarily make the right decision every time, the peripheral EZ countries were up against powerful exogenous forces – capital flow bonanzas and sudden stops – that tended to push them toward financial crisis. They were playing against a stacked deck.
(The Street Light – via Economia e Finanças)
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