Cracks in Euroland and No Way Out

Author (Person) ,
Series Title
Series Details Vol.44, No.1, January-December 2009, p2-3
Publication Date January 2009
ISSN 0020-5346
Content Type

The European Monetary Union (EMU) has been under increased international and internal scrutiny recently. Since the outbreak of the global financial crisis long-term interest rates between member states have been driven further apart than ever before. Spain, for example, has a ten-year government bond yield which is more than one percentage point or 100 basis points higher than Germany’s. For Greece the difference amounts to more than 250 basis points.

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