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This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that …
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We argue that current sovereign debt management lacks important incentives for governments and politicians to fulfill it in a sustainable and long-term orientated way. This paper outlines that the mechanisms to solve sovereign debt problems within the EMU are not only missing the right...
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The present study puts forward a plan for solving the sovereign debt crisis in the euro area (EA) in line with the … restructuring of any foreign eurozone country. Debt will not be forgiven: individual states will agree to buy it back from the ECB …
Persistent link: https://www.econbiz.de/10010432271
New monthly statistical indicators on government debt securities for euro area countries have now been developed on the … describes in detail the newly compiled statistical information and thus contributes to further describing the euro area … government bond markets. The new indicators on euro area government debt securities are also highly relevant for policymaking and …
Persistent link: https://www.econbiz.de/10011664040
In this paper we analyse debt stabilization in a monetary union that features endogenous risk premia. In particular, we analyse debt stabilization in two diametrically opposed regimes. In the first regime, the "national fiscal discipline regime", financial markets impose sovereign risk premia...
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