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I know this is true when the debt is issued by the currency issuer & denominated in that same currency, such as in the case of the United States. Is that also
by fjp 8y ago
I know this is true when the debt is issued by the currency issuer & denominated in that same currency, such as in the case of the United States.
Is that also true in the case of say, Italy's debt denominated in Euros or Illinois state debt denominated in USD? I have been meaning to read Steve Keen's work on this
- johnny22 8y agowhen Italy was on the lira yes, with the Euro no. Look at how the Greek crisis unfolded.