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19 November 2021

Bruegel: Fiscal arithmetic and risk of sovereign insolvency

Rapidly growing public debt

Fiscal policy responses to the global financial crisis (GFC) of 2007-2009, the European financial crisis of 2010-2015 and the COVID-19 crisis of 2020-2021 led to the rapid increase of public debt-to-GDP ratios in most advanced economies. In most countries, the...

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