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Sovereign Default in the Core?

C P CHANDRASEKHAR
Economic and Political Weekly
Vol. 44, No. 50 (DECEMBER 12-18, 2009), pp. 8-9
Stable URL: http://www.jstor.org/stable/25663876
Page Count: 2
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Abstract

Rising sovereign or sovereign-guaranteed debt followed on occasion by sovereign default was until recently a problem faced by developing countries. Now the pattern has turned upside down. It is the metropolitan centres of capitalism which are running up large debts and are experiencing a rapid increase in the public debt-GDP ratio. Some of them may even end up defaulting on this debt.

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