The unpleasant legacy of the crisis: public debt and low trend growth in the Eurozone

In this audio from VoxEU,org Nicholas Crafts talks to Viv Davies about Crafts recent work on the threatening issue of public debt in the Eurozone. Crafts maintains that the implicit fault line in the EZ is evident; several EZ economies face a long period of fiscal consolidation and low growth and that a different sort of central bank might be preferable. They also discuss the challenges and constraints of banking, fiscal and federal union.