This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives … confronting euro area governments. It suggests that pooling fiscal risks, creating an EU Treasury and issuing jointly-backed euro … advantages and disadvantages of euro bonds and concludes that issuing euro bonds can transform a market that is fragmented along …

This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when … working as lender of last resort for the euro area member States; indeed, only when the ECB took this responsibility by … launching the Outright Monetary Transactions clear signs of improvement were observed in the sovereign debt crisis. …

This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when … working as lender of last resort for the euro area member States; indeed, only when the ECB took this responsibility by … launching the Outright Monetary Transactions clear signs of improvement were observed in the sovereign debt crisis. …

on foreign-held sovereign debt, devalued its currency, imposed strict capital controls and bankrupted a large number of … Ireland, as it highlights the overall importance of growth dynamics in determining the sustainability of post-default or post-debt … factors not open to the Euro area member states today, from the point of view of the impacted states with strong potential …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A "Euro Treasury" scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …