Bank for International Settlements

Europe's Debt Crisis:
Fixed, or Just Papered Over?

Officially, Europe's fiscal health is on the mend, but each time the Continent's debt crisis is declared history, some ugly financial news quickly emerges to undercut those claims. Indeed, the real eurozone meltdown may still lurking beyond the horizon.

Why the Skyrocketing Deficit Matters

Respected economists like Paul Krugman are claiming deficits don't matter, while other equally well-regarded economists such as Kenneth Rogoff say high debt levels lead to substantially lower growth.