The Global Financial Crisis reveals Consolidation and Financial Guarantees to be key issues for Financial Sustainability

(). The Global Financial Crisis reveals Consolidation and Financial Guarantees to be key issues for Financial Sustainability. In: 15th IRSPM Conference. Dublin/Ireland:

Examining the government interventions in the UK, Germany and Switzerland during the Global Financial Crisis reveals a number of accounting issues influencing sustainability of public finances. The two key issues are consolidation, or rather the lack of it, and financial guarantees which are seldom accounted for. Therefore, these aspects are also not taken into consideration in decision processes. A special issue is also the relationship between central banks and governments in the context of consolidation.