problems within the EMU are not only missing the right incentives but also setting the wrong ones. In contrast to current …We argue that current sovereign debt management lacks important incentives for governments and politicians to fulfill …-sensitive government bonds (PSGB) where coupon payments are closely linked to debt policy, giving strong incentives to limit debt levels …

problems within the EMU are not only missing the right incentives but also setting the wrong ones. In contrast to current … and to timely restructure the economy. -- sovereign debt management ; government bonds ; incentives ; EMU ; debt crisis …We argue that current sovereign debt management lacks important incentives for governments and politicians to fulfill …

This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that …