The main argument of this paper is that initiatives for regional cooperation - particularly related to short-term external financing: reserve sharing and trade-related payments systems - are promising avenues for policy efforts, in face of an international financial situation marked by...

This study analyses financial sustainability of the Finnish public sector. Current tax rates are unlikely to yield sufficient tax revenue for financing public expenditure under an ageing population. In the base alternative we assume that the European crisis does not worsen and that productivity...