1. State contingent debt as insurance for euro-area sovereigns
- Author:
- Maria Demertzis and Stavros Zenios
- Publication Date:
- 04-2018
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- Since the financial crisis, EU countries' economies have recovered to the point that they are exiting their adjustment programmes. Institutional stability mechanisms have been improved at the European level, with the promotion of the banking union and the establishment of a European Monetary Fund, for instance. However, the authors argue that such crisis contingencies should include markets in their risk-sharing, which would require better coordination with institutions.
- Topic:
- International Political Economy
- Political Geography:
- Europe