EMU -- Greek crisis ; bail-out ; negative externality ; political economics ; game theory ; euro ; EMU …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our …

. -- Greek crisis ; bail-out ; negative externality ; political economics ; game theory ; euro ; EMU …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our …

essence of today's crisis we analyze to what extent a "troubled" periphery EZ member can negotiate a bailout from the center … strengthen the EZ through at least four channels. -- sovereign debt crisis ; Eurozone ; Euro ; exit rules ; bail-out ; political … economics ; game theory …

The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our … analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process …