may be a new normal in Europe
that could be extended until, or even after, the end
of the decade. In this prolonged stagnation scenario, there are three main risks. First, since levels of
public debt will continue to rise as a share of GDP,
owing to slow or negative output growth, the issue
of public debt restructurings in several peripheral
eurozone countries could become very likely. Second, financial market fragmentation will continue
to restrain credit and keep the system exposed to
financial…
Words 5561 - Pages 23
