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The Future of Business in Emerging Markets by Nenad Pacek

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Sovereign debt crisis

But an even bigger issue for the Eurozone in the short term is the sovereign debt crisis, which is constantly threatening to infect the entire area. To explain the sovereign debt crisis and its principal sources, we need to take a step back. This will also help us understand how the crisis might play out in the future and what the impact on business could be.

Was the introduction of the common currency, the euro, a wise idea in the first place from an economic standpoint? Before the introduction of the euro, many academics in respected economic journals wrote that the euro did not make sense because you could never have one interest rate for such a diverse group of markets, growing at different paces. Many academics argued ...

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