Claessens, Stijn, Mody, Ashoka & Vallee, Shahin.
The Eurozone debate is awash with proposals for mutualising national debt. This column summarises and evaluates the main proposals – suggesting how they might be combined in a five-year path to a fiscal union. It stresses that short-term stability objectives will only work if they help to advance the agenda for fiscal federalism including macroeconomic stabilisation and risk-sharing.
Πηγή: Voxeu