Micossi, Stefano, (2016), “The glass is still half-empty: Eurozone stability under threat of a ‘bad shock’”, Voxeu, 20 Αugust
Some economists are approaching a consensus that the Eurozone’s financial architecture is now resilient enough to withstand another shock similar to that of 2010-11. This column argues that such a view may be overly optimistic. Economic and financial instability persists in member states and the banking sector, and institutions to tackle a shock remain incomplete. While the Eurozone remains vulnerable to a bad shock, the blanket application of burden sharing without consideration of current economic and financial conditions is unwise.
- Andritzky, Jochen, Feld, Lars P, Schmidt, Christoph M, Schnabel, Isabel, Wieland, Volker, (2016), “Creditor participation clauses: Making orderly sovereign debt restructuring feasible in the Eurozone”, Voxeu, 21 July
- Baldwin, Richard et al., (2016), “Making the Eurozone more resilient: What is needed now and what can wait?”, Voxeu, 25 June