Who Will Pay For The Debt Burden In Europe?

This article reviews the options available for dealing with the eurozone crisis. In the last analysis it will come down to who will pay for the debt burden. This is not an easy problem to solve. A further point that we should be concerned about is the risk of eurozone recession. If each of the countries in the eurozone resort to austerity programs, there will be a contraction of aggregate demand that will insure recession and worsen the debt crisis.