…credible sovereigns? There is a key difference between debt denominated in the national currency and debt denominated in foreign currency. The case of France in the 20s is different from…

…total debt. The U.S. stands out, however, for increasing government debt during an expansionary phase of the business cycle when ordinarily debt shrinks. Other advanced economies have used this opportunity…

…who are economists and readers who live in the Eurozone and whose primary interest is in their own news. But Eurozone news remains quite pertinent to Angry Bear readers, hence…

As if there were not already abundant proof of the failure of austerity in the eurozone, the BBC reported yesterday that both Spain and France have hit new unemployment milestones….

…But this is a really big deal. The dominant narrative about the eurozone crisis is that fiscally irresponsible countries like Greece were bringing the once-proud currency to its knees, and…

…to its inability to devise a way to deal with fiscal imbalances among members of the Eurozone. Cohen compares the Eurozone’s institutional framework with that of the U.S., which adopted…

Europe’s Response to Coronavirus and the Implications for the U.S. As I listened to the morning news about the coronavirus crisis, I was reminded of this critique of the Eurozone:…

…(and by association, the Germans) thinks of ‘competitiveness becomes more clear (h/t Marshall Auerback and bold by yours truly): “All Eurozone governments need not only convincingly demonstrate their commitment to…

…their constitutional obligation to ensure that the nation can pay for the debts it has already incurred. See Taylor, Top Dems Urge Obama to Weigh Unilater Debt Hike, Salon.com (Jan….

…Since financial industry debt is “different,” what does the graph look like if we exclude that? Federal Debt Held by the Public as a Percentage of (Total Credit Market Debt…