{"id":3350,"date":"2012-01-16T14:57:37","date_gmt":"2012-01-16T12:57:37","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=3350"},"modified":"2012-01-16T14:57:37","modified_gmt":"2012-01-16T12:57:37","slug":"the-euro-crisis-and-the-new-impossible-trinity","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/the-euro-crisis-and-the-new-impossible-trinity\/","title":{"rendered":"The Euro crisis and the new impossible trinity"},"content":{"rendered":"<p><a href=\"http:\/\/www.bruegel.org\/scholars\/scholar-detail\/scholar\/2-jean-pisani-ferry\/\" target=\"_blank\">Pisani-Ferry, Jean<\/a>.<\/p>\n<p>The search for solutions to the euro crisis is based on a partial diagnosis that overemphasises the lack of enforcement of existing fiscal rules. Europe\u2019s leaders should rather address the euro area\u2019s inherent weaknesses revealed by the crisis.<\/p>\n<p>At the core of euro-area vulnerability is an impossible trinity of strict no-monetary financing, bank-sovereign interdependence and no co-responsibility for public debt. This Policy Contribution assesses the corresponding three options for reform: a broader European Central Bank (ECB) mandate, the building of a banking federation, and fiscal union with common bonds. None will be easy.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae:\u00a0 <\/strong>Bruegel<\/p>\n<p><a href=\"http:\/\/www.bruegel.org\/publications\/publication-detail\/publication\/674-the-euro-crisis-and-the-new-impossible-trinity\/\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pisani-Ferry, Jean. The search for solutions to the euro crisis is based on a partial diagnosis that overemphasises the lack of enforcement of existing fiscal rules. Europe\u2019s leaders should rather address the euro area\u2019s inherent weaknesses revealed by the crisis. At the core of euro-area vulnerability is an impossible trinity of strict no-monetary financing, bank-sovereign [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,32],"tags":[26,25],"class_list":["post-3350","post","type-post","status-publish","format-standard","hentry","category-19","category-32","tag-26","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=3350"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3350\/revisions"}],"predecessor-version":[{"id":3351,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3350\/revisions\/3351"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=3350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=3350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=3350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}