Řešení krize a převod do krize dluhové
Resolution of crisis and its morphing into a debt crisis

Summary/Abstract: This paper deals with the topic of the financial crisis evolving into a sovereign debt crisis. First of all, the economic and geopolitical impacts of the relatively new G20 forum are analyzed. Most attention is given to the latest summit – the Toronto summit, where the discrepancies between the German and US attitude towards further economic development became obvious. The German way of fiscal consolidation was of course influenced by the Greek crisis and problems in other, so called PIGS countries. However, the cuts approach leads the sovereign states into another crisis: a crisis of political legitimacy.

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