CLSA prescribes Asian medicine for eurozone crisis

A study by CLSA suggests the Asian crisis of 1997-98 provides important lessons for the countries in Europe's periphery.

Judging by the debate raging in Europe, there are only two options for fixing the problems of the eurozone’s struggling economies austerity or growth.

The experience of the Asian crisis of 1997-98, however, suggests that this is a false choice. What happened back then is very similar to what is happening in Europe today after relying on foreign investors to fund savings shortfalls during a period of loose credit and over-investment, that support has now...

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