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Carmen Reinhart

How Advanced Economies Can Tackle Their Debt Woes

Vamsee Kanchi's picture

Given the urgent need for policymakers in Europe and other advanced economies to tackle current debt challenges, there is a frantic scramble for suitable policy tools that will help resolve the Greek conundrum. 

One policy tool – a form of debt restructuring known as ‘financial repression’ that focuses on establishing a tighter relationship between government and the financial industry by setting caps on interest rates and regulating cross-border money flows – has largely been overlooked.  The Petersen Insitute’s Carmen Reinhart recently delivered a