A recent article in the Financial Times summarizes and criticizes the standard approach to focusing responsibility for the Eurozone debt crisis, for which it blames:

A) the operations of the ECB.
B) the restraint on borrowing, which is an integral part of the Eurozone convergence criteria.
C) the irresponsibility of the ECB for funding domestic bank purchases of their government's bond issues.
D) speculators, irresponsible fiscal deficits, and poor risk assessment.


Ans: D) speculators, irresponsible fiscal deficits, and poor risk assessment.

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