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Adjustment Difficulties and debt overhangs in the Eurozone periphery CEPS Working Document No 347, May 2011

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Figure

Figure 11. Gross and
Table 3. The evolution of key factors for sustainability: Growth rates of nominal GDP and nominal interest rates
Table 4. The actual fiscal adjustment required to prevent debt-to-GDP ratio from increasing
Figure 3 below provides evidence of the large borrowing by monetary and financial institutions from national central banks as a percentage of GDP and explains why domestic amounted to about 50% of GDP for Greece and 80% for Ireland, the economies of these
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