Corvinus
Corvinus

A comprehensive approach to the euro-area debt crisis

Darvas, Zsolt and Piasni-Ferry, Jean and Sapir, André (2011) A comprehensive approach to the euro-area debt crisis. Working Paper. BCE Matematikai Közgazdaságtan és Gazdaságelemzés tanszék, Budapest.

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Official URL: http://web.uni-corvinus.hu/matkg/

The main text of this paper was first published as Bruegel Policy Brief 2011/02 and the appendix as Bruegel Working Paper 2011/05.

Abstract

The euro area‘s sovereign debt crisis continues though significant steps have been taken to resolve it. This paper proposes a comprehensive solution to the crisis based on three pillars: a plan to restore banking sector soundness in the whole euro area, a resolution of sovereign debt crisis -including a revision of EU assistance facilities and a reduction of the Greek public debt- and a strategy to foster growth and competitiveness. The paper provides novel estimates and analysis focusing on the current situation of Greece, Ireland, Portugal and Spain.

Item Type:Monograph (Working Paper)
Uncontrolled Keywords:fiscal sustainability, euro-area crisis, financial interdependence, JEL: F34, E60, H63
Subjects:Economic policy
Finance
International economics
ID Code:304
Deposited By: Ádám Hoffmann
Deposited On:09 Mar 2011 13:09
Last Modified:03 Jul 2012 00:24

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