Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 18, 2020

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Sat Nov 21 12:31:19 +0000 2020

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Paul Krugman @paulkrugman

As he noted, Spain's fiscal position wasn't significantly worse than Britain's — yet Britain had very low borrowing costs while Spain was in crisis 4/ https://t.co/oC57awoU18 — PolitiTweet.org

Posted Nov. 21, 2020

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Paul Krugman @paulkrugman

At the time, borrowing costs for southern European nations were soaring, and default seemed imminent. But the Belgian economist Paul De Grauwe argued that solvency wasn't really the issue 3/ https://t.co/fkR6Ma9u6M — PolitiTweet.org

Posted Nov. 21, 2020

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Paul Krugman @paulkrugman

He argued that it was a self-fulfilling liquidity crisis. Investors were afraid that Spain would run out of cash, and were fleeing out of that concern — creating the very cash crunch they feared. 5/ — PolitiTweet.org

Posted Nov. 21, 2020