Open AccessSome aspects concerning the economics of sovereign debt and possible influences of the COVID-19 pandemic
Author(s) -
Liviu-Daniel Deceanu,
Gabriela Bodea
Publication year - 2021
Publication title -
review of economic studies and research "virgil madgearu"
Language(s) - English
Resource type - Journals
ISSN - 2069-0606
DOI - 10.24193/rvm.2021.14.71
Subject(s) - debt , sovereignty , economics , financial system , pandemic , population , default , sovereign default , monetary economics , sovereign debt , covid-19 , business , economic policy , political science , macroeconomics , finance , medicine , politics , law , disease , environmental health , pathology , infectious disease (medical specialty)
In the last 10 years, the sovereign debt crisis and its effects have made certain concepts, reserved until then only to specialists, to become elements of current language – public debt, sovereign debt, default, over-indebtedness, structural deficit, monetary policy, indebtedness ratios, sovereign debt effects, IMF intervention, willingness to pay… The indebtedness and over-indebtedness generated negative effects that affected not only the public finances, but also the economic agents (businesses) and the population, fueled by the lack of vision and responsibility of some governors. After the global economic crisis of 2008 and that of sovereign debt after 2010, a better control of indebtedness was tried, a more rigorous approach was implemented, but the Coronavirus pandemic that manifested itself in 2020 (and continues to do so) brought back to the forefront the problem of sovereign indebtedness and sovereign default.