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All together now? Arguments for a big-bang solution to eurozone problems. CEPS Commentary, 6 December 2010

Gros, Daniel. (2010) All together now? Arguments for a big-bang solution to eurozone problems. CEPS Commentary, 6 December 2010. [Policy Paper]

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    Abstract

    Muddling through isn’t working. This commentary argues that troubled eurozone nations should simultaneously open restructuring talks while continuing to service their debts normally. Germany, France and other core eurozone nations would have to stand ready to recapitalise the banks most exposed to the restructured debt. The ECB would then stabilise the banking system and the EFSF would stabilise sovereign debt. This big bang could be prepared in a weekend; the market already seems to be pricing it in.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 11 Jan 2011
    Page Range: p. 5
    Last Modified: 15 Feb 2011 18:40
    URI: http://aei.pitt.edu/id/eprint/15456

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