G2TT
来源类型Policy Brief
规范类型简报
来源IDPolicy Brief11-22
Oil Exporters to the Euro's Rescue?
Philip K. Verleger
发表日期2011-12-01
出版年2011
语种英语
摘要

Energy-exporting countries have more at risk than any other participant in the world economy if the euro crisis plunges Europe into recession. These countries would likely experience greater losses in 2012 should Europe fail. Oil and natural gas prices would plummet, and the price collapse would likely be larger than the 2008–09 decline. Energy-exporting countries therefore should be working feverishly with the International Monetary Fund (IMF) and the European Union to rescue the euro. They, along with China and other large holders of foreign exchange reserves, should lend to the IMF to help it construct an emergency lending facility with capacity of more than €1 trillion. The fund, administered by the IMF, would be used to buy bonds issued by Greece, Italy, Spain, Portugal, and Ireland. The goal should be to bring interest rates on long-term bonds down to 3 percent. Simultaneously, efforts should be redoubled to fix the economic problems in the troubled nations and restore balance to their budgets. An energy price collapse would increase disruptions in energy-exporting countries, promote economic ills in some consuming nations, such as Canada, and almost certainly start yet a third, even more violent, economic cycle.

主题Europe & Central Asia ; Middle East & ; North Africa ; Energy ; Currency
URLhttps://www.piie.com/publications/policy-briefs/oil-exporters-euros-rescue
来源智库Peterson Institute for International Economics (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/454762
推荐引用方式
GB/T 7714
Philip K. Verleger. Oil Exporters to the Euro's Rescue?. 2011.
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