ABSTRACT. This paper discusses the major trends in scholarship about the ongoing sovereign debt problems of the Eurozone, the inability of national governments to resolve the global economic problems, the international links among trade, capital flows, and savings, and the role played by the European financial system in fueling the credit boom in the United States. I am specifically interested in how previous research investigated the relationship among trade, the savings rate, and international capital flows, the causes of significant trade imbalances, key aspects of the European banking crisis, and the role played by global European banks in financing credit and asset price booms. pp. 192–197
JEL codes: G01, G21, E44
Keywords: economic crisis, Eurozone, global finance, interbank lending