Maastricht criteria tough enough to contain crisis threat: Cyprus
Maastricht criteria limits for public debt effectively insulate European states against the risk of default, a research paper published by the Central Bank of Cyprus on Thursday finds.
The research finds that the probability of a fiscal solvency crisis over a horizon of ten years is zero for countries with values of debt and the primary surplus relative to GDP within the respective 60% and 3% limits set by the Maastricht Treaty.
For countries like Greece and Italy, however, in which 2009 debt
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