We test the hypothesis that the government bond markets in the Eurozone are more fragile and more susceptible to self … peripheral Eurozone countries during 2010–11 was disconnected from underlying increases in the debt to GDP ratios and fiscal … 2010. We argue that this can drive member countries of the Eurozone into bad equilibria. We also find evidence that after …

The nature of fiscal policies was changed dramatically by the creation of the Eurozone. While prior to the start of the … Eurozone, national governments were sovereign in that they could back up the issue of debt by the issue of money, they lost … this sovereignty in the Eurozone. This had dramatic effects that were largely overlooked by the designers of the Eurozone …

The government debt crisis, erupted in the Eurozone in 2009, nearly led to the collapse of European monetary union. Now … that this has been averted, the question is what should be done to make the Eurozone sustainable in the long run. The … survival of the Eurozone hinges on the capacity of its leaders to improve the eurozone's governance. With the exception of …