i always thought of newfoundland as a profit since of canada. it was the country and it lost its sovereignty because it was on the brink of default. talk about a high price for defaulting. so, to make a long story short, there was a lot of detective work that pointed to the plug-ins it unfolded over several years and the idea for the book came from work we did in 2003. bin 2004, 2005 were busy years that we were finishing a lot of other work so in 2006 we began full speed to bring this data together and work. i must say, and i can speak for both my co-author ken rogoff and myself on this. i think one of the things that i am most proud in my professional career is that as this crisis unfolded, not just here in the united states but in europe. the u.k.'s crisis can almost be a mirror of what is happening in the u.s. and it happened in ireland and it happened in spain. we have the first global crisis and i know the term global gets bandied around a lot, but this is really globaled, meaning that a huge share of world gdp by the number of countries t

i always thought of newfoundland as canada. what was a country and its lost its sovereignty because it was on the brink of default. talk about a high price for defaulting. succumbing to make a long story short, there was a lot of detective work that went into the book and unfolded over several years when we really started working the idea for the book came from work that we did in 2003 in 2004 and 2005 we were busy years we were finishing other work and so in 2006 we began full speed to bring the data together and work. i must say that -- and i can speak for both the ken rogoff, michael author, and myself one of the things i'm most proud of in my professional career is that as this crisis unfolded not just here in the united states but in europe, the crisis can almost be a merit of what is happening in the u.s. and ireland and it happened in spain. we have the first global crisis and i know the term global gets pinned it around a lot, but this is global meaning that a huge share of world gdp by the number of countries has been