Good chart- shows how far the euro zone debt is out of bounds for their currency arrangements:
Sovereigns vs States
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Good chart- shows how far the euro zone debt is out of bounds for their currency arrangements:
Sovereigns vs States
Warren,
Your own work can explain this difference when the US has a central fiscal authority that can spend and redistribute across states while Eurozone states are revenue constrained (involuntarily)and operating under a euro standard controlled solelely by the ECB.