Pleasant dreams or nightmares, int he pubic debts scenarios? by Vito Tanzi published by Lisbon School of Economics & Management (01/2016). “There were always and there continue to be situations that may justify the expedient of public borrowing. It should be realized that in the past governments did not have the elaborate, modern tax administrations capable of collecting new taxes within relatively short periods of time, when a need arised…”
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