Publication
9 Nov 2010
At the insistence of Germany, the member countries of the eurozone appear to have agreed to introduce a sovereign debt default mechanism. They even seem to be willing to codify this into a new treaty – an extraordinary step. My contention is that this is a very bad decision that will make the eurozone more fragile by making financial crises an endemic feature of the eurozone.
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English (PDF, 4 pages, 188 KB) |
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Author | Paul De Grauwe |
Series | CEPS Commentaries |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2010 Centre for European Policy Studies (CEPS) |