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State contingent debt as insurance for euro-area sovereigns. Bruegel Working Paper Issue 03/26 April 2018

Demertzis, Maria and Zenios, Stavros (2018) State contingent debt as insurance for euro-area sovereigns. Bruegel Working Paper Issue 03/26 April 2018. [Working Paper]

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    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.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > banks/financial markets
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 30 Apr 2018 10:33
    Number of Pages: 28
    Last Modified: 30 Apr 2018 10:33
    URI: http://aei.pitt.edu/id/eprint/93804

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