A mechanism of self-destruction of the eurozone
de Grauwe, P.
(2010).
A mechanism of self-destruction of the eurozone.
(CEPS commentaries).
Centre for European Policy Studies.
(2010).
A mechanism of self-destruction of the eurozone.
(CEPS commentaries).
Centre for European Policy Studies.
Drawing an analogy with the ill-fated Exchange Rate Mechanism (ERM) of the pre-eurozone era, Paul De Grauwe argues in a new CEPS Commentary that the creation of a sovereign debt default mechanism is a very bad decision that will make the eurozone more fragile by making financial crises an endemic feature.