Sascha Engel on "Germany", Asset Class Contagion, and Contagious Stability"

Sascha Engel on “Germany”, Asset Class Contagion, and Contagious Stability”

This paper reverses the order in which the Eurozone crisis is usually examined. Rather than a crisis of sovereign debt, caused by profligate peripheral governments and rectified by virtuous thrifty Germans, Latvians and Finns, I argue that the origin of…