A European mechanism for sovereign debt crisis resolution: a proposal
PISANI-FERRY Jean , SAPIR André , VON HAGEN Jürgen
Product details
- Categories: Economic and Monetary Affairs, Financial Crisis
- Publisher: BRUEGEL
- Collection: Bruegel's Blueprints
- ISBN: 9789078910183
- Publication Date: 09/11/2010
- Binding: Paperback
- Number of pages: 38
- Language: English
Summary
This Bruegel Blueprint argues that Europe should take the lead in defining a solution to the problem of excessive public debts and create a European Crisis Resolution Mechanism (ECRM).The authors, Francois Gianviti, Anne O. Krueger, Jean Pisani-Ferry, André Sapir and Jürgen von Hagen, present the rationale for such a mechanism in the euro area and details of how an ECRM would work. The ECRM would be a permanent tool to deal with sovereign debt crises in an effective and predictable way.