- Article
Debt Contagion in Europe: A Panel-Vector Autoregressive (VAR) Analysis
- Florence Bouvet,
- Ryan Brady and
- Sharmila King
The European sovereign-debt crisis began in Greece when the government announced in December, 2009, that its debt reached 121% of GDP (or 300 billion euros) and its 2009 budget deficit was 12.7% of GDP, four times the level allowed by the Maastricht...

