International lending, sovereign debt and joint liability : an economic theory model for amending the treaty of Lisbon
Basu, Kaushik, Stiglitz, Joseph. As the Eurozone crisis drags on, it is evident that a part of the problem lies in the architecture of debt and its liabilities within the Eurozone and, more generally, the European Union. This paper argues that a large part of the problem can be mitigated by permitting appropriately-structured cross-country liability for […]