{"id":7346,"date":"2016-05-17T09:25:42","date_gmt":"2016-05-17T06:25:42","guid":{"rendered":"http:\/\/bestinsurance.gr\/a1\/?p=7346"},"modified":"2016-05-17T01:34:55","modified_gmt":"2016-05-16T22:34:55","slug":"a-surplus-of-ambition-can-europe-rely-on-large-primary-surpluses-to-solve-its-debt-problem","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/7346","title":{"rendered":"A SurpluS of Ambition: Can EUROPE Rely on Large Primary Surpluses to Solve its DEBT PROBLEM?"},"content":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F7346\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"7346\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F7346&text=A+SurpluS+of+Ambition%3A+Can+EUROPE+Rely+on+Large+Primary+Surpluses+to+Solve+its+DEBT+PROBLEM%3F\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"7346\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><h2 style=\"text-align: center;\">A SURPLUS OF AMBITION:<br \/>\nCAN EUROPE RELY ON LARGE PRIMARY SURPLUSES TO SOLVE ITS DEBT PROBLEM?<\/h2>\n<p style=\"text-align: left;\">Introduction<br \/>\nEurope\u2019s problem economies have heavy debts and gloomy growth prospects. This fact\u00a0raises obvious concerns about the sustainability of public debts, concerns that have\u00a0manifested themselves periodically in increases in yields that investors demand to hold\u00a0governments\u2019 debt securities. As we write, investors are relatively sanguine. The\u00a0question is whether they will remain so. It is whether and when worries about debt\u00a0sustainability will be back.<\/p>\n<p style=\"text-align: left;\">The IMF, in its Fiscal Monitor (2013), sketches a scenario in which the\u00a0obligations of heavily indebted European sovereigns first stabilize and then fall to the\u00a060 percent level targeted by the EU\u2019s Fiscal Compact by 2030. It makes assumptions\u00a0regarding interest rates, growth rates and related variables and computes the cyclically\u00a0adjusted primary budget surplus (the surplus exclusive of interest payments) consistent\u00a0with this scenario. The heavier the debt, the higher the interest rate and the slower the\u00a0growth rate, the larger is the requisite surplus. The average primary surplus in the\u00a0decade 2020-2030 is calculated as 5.6 percent for Ireland, 6.6 percent for Italy, 5.9\u00a0percent for Portugal, 4.0 percent for Spain, and (wait for it\u2026) 7.2 percent for Greece.1<\/p>\n<p>&nbsp;<\/p>\n<p>[sociallocker id=4953]\u0394\u03b9\u03b1\u03b2\u03ac\u03c3\u03c4\u03b5 \u03c4\u03b7 \u03c3\u03c5\u03bd\u03ad\u03c7\u03b5\u03b9\u03b1 \u03c0\u03b1\u03c4\u03ce\u03bd\u03c4\u03b1\u03c2 \u03c4\u03bf <a href=\"https:\/\/drive.google.com\/file\/d\/0B9x9ciZkMMaZSWlJZDBEbkZ6UmdhbVRocVVSUng2RTJDbmJR\/view?usp=sharing\" target=\"_blank\">link<\/a>[\/sociallocker]<\/p>\n","protected":false},"excerpt":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F7346\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"7346\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F7346&text=A+SurpluS+of+Ambition%3A+Can+EUROPE+Rely+on+Large+Primary+Surpluses+to+Solve+its+DEBT+PROBLEM%3F\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"7346\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>A SURPLUS OF AMBITION: CAN EUROPE RELY ON LARGE PRIMARY SURPLUSES TO SOLVE ITS DEBT PROBLEM? Introduction Europe\u2019s problem economies have heavy debts and gloomy growth prospects. This fact\u00a0raises obvious concerns about the sustainability of public debts, concerns that have\u00a0manifested themselves periodically in increases in yields that investors demand to hold\u00a0governments\u2019 debt securities. As we<\/p>\n","protected":false},"author":1,"featured_media":7086,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-7346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/7346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=7346"}],"version-history":[{"count":9,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/7346\/revisions"}],"predecessor-version":[{"id":7355,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/7346\/revisions\/7355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/7086"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=7346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=7346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=7346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}