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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Can the Eurozone Survive?

  Dante Roscini and Jonathan Schlefer

  The sovereign debt crisis that took Greece by storm in 2010 began to spread to other European markets. Within a few months Ireland and Portugal had also lost access to the sovereign debt markets and had to rely on supranational loans for their financing. The risk of further contagion was clear and present. Political leaders continued to seek measures to stem the crisis and to avoid the larger economies of Spain and Italy becoming involved. The European financial system became strained. Banks were found to be undercapitalized and began to ration credit to the economy. The European Central Bank intervened to provide liquidity to the system in order to avoid a credit crunch. Could the eurozone survive the storm?

  Keywords: sovereign debt crisis; Currency areas; Financial Crisis; Borrowing and Debt; Currency Exchange Rate; International Relations; Banking Industry; European Union; Germany; France; Italy; Spain; Greece; Portugal;

  Citation:

  Roscini, Dante, and Jonathan Schlefer. "Can the Eurozone Survive?" Harvard Business School Case 713-034, May 2013. (Revised from original September 2012 version.)

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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Privatization of the Power Sector in Nigeria (A)

  Eric Werker, Onyechi Ezekwueche, Olatomiwa Igun and Alice Wei

  In spite of its abundant energy resources, Nigeria in 2012 had one of the lowest levels of energy use in the world. Self-generation of power from costly generators was double that of grid-supplied electricity. The history of its power sector was one of inefficient monopolies, missteps, and corruption. But a wholesale change to the market, designed under reformist President Obasanjo and pushed forward by President Jonathan, promised greater efficiencies and investment guided by private-sector principles including widespread privatization, pricing reforms, and reliance on firms to produce and distribute the electricity. Power producer firms on the sideline needed to decide whether they wanted to be a part of this new market.

  Keywords: privatization; Energy; Nigeria;

  Citation:

  Werker, Eric, Onyechi Ezekwueche, Olatomiwa Igun, and Alice Wei. "Privatization of the Power Sector in Nigeria (A)." Harvard Business School Case 713-042, March 2013. (Revised from original October 2012 version.)

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• Background Note | HBS Case Collection | 2013 (Revised from original 2011 version)

  How Government Debt Accumulates

  Dante Roscini and Jonathan Schlefer

  This note discusses the economics of government-debt accumulation. Fiscal deficits are only part of the picture; other factors include the level of debt as a percent of nominal GDP; the interest rate; the inflation rate; the growth rate; and changes in the exchange rate if some debt is owed in a foreign currency. The note discusses how these factors interact to affect government debt levels.

  Keywords: Government and Politics; Borrowing and Debt;

  Citation:

  Roscini, Dante, and Jonathan Schlefer. "How Government Debt Accumulates." Harvard Business School Background Note 711-087, February 2013. (Revised from original April 2011 version.)

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