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[The recent developments in the euro area have shown how important it is that the various economic sectors pay attention to their financial positions, and particularly to the sustainability of their debt levels. The attention usually focuses on the government sector. Despite the Maastricht Treaty and the Stability and Growth Pact provisions, many euro area governments have not succeeded in reducing their gross debt to a level that can be considered sustainable, inter alia in the light of the financial crisis and the rising costs of population ageing.]
Published: Nov 24, 2015
Keywords: Euro Area; Public Debt; Debt Ratio; Government Debt; Debt Level
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