Neither bail-outs nor Eurobonds will solve the debt crisis. We need to implement comprehensive reforms that will produce confidence and growth.

Balcerowicz, Leszek (2012) Neither bail-outs nor Eurobonds will solve the debt crisis. We need to implement comprehensive reforms that will produce confidence and growth. [Online resource]

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Reforms, not bail-outs or Eurobonds, are the answer to the crisis engulfing not just the most vulnerable and indebted Eurozone countries but the single currency itself, warns Leszek Balcerowicz. And they offer both short and long-term solutions to the crisis.