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Vigorous debate over the effectiveness of the fiscal adjustment programmes for the crisis-stricken countries in the eurozone has grown quite polarised. In this Forum, several experts use analytical, evidence-based approaches to gauge the effectiveness of these programmes. The role played by the...
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of contributors to examine the options available to EU policymakers. As the threats to European Monetary Union resurface … now, six of the same authors return in this issue's Forum to reassess the situation, in particular with regard to the EU … arguments eight months ago, the EU's current predicament has shifted the prevailing sentiment strongly toward the pessimistic …
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The sharp widening of yield spreads among EMU sovereign bonds in the course of the economic crisis and concerns that some EMU member countries would encounter difficulties in rolling their existing debt and funding new budget deficits have revived proposals for a common bond issuance by EMU...
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Over the last ten years the European unification project seemed to rely overwhelmingly on progress in economic terms. The most prominent achievements – the Single Market, the harmonisation of market regulation, the euro – were all driven by an economic rationale. However, attempts to rescue...
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While past discussions on EMU tended to emphasise its role in limiting the impact of the global financial crisis on the euro area countries, the focus has now shifted to the destabilising effects threatening the entire euro zone as a consequence of the dire fiscal situation in some weaker member...
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