The Aftermath of the Financial Crisis

02/07/2010

Kenneth Rogoff: “Sovereign debt is soaring in many countries, but this is a common phenomenon after a financial crisis”

“Public debt soars high after a financial crisis because the Government assumes more debt than it can handle”

“Forcing Banks to comply with the regulations of the financial system is like advising a patient to go jogging after a heart attack”

“After this crisis the majority of countries won’t go into default, but growth will be reduced”

“There were people in the US who warned about a crisis well before 2007 because the Federal Government was assuming too much debt. Others, on the contrary, thought that this time it would be different because of globalisation, but the latter were wrong”