Author (Person) | Micossi, Stefano |
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Publisher | Centre for European Policy Studies [CEPS] |
Series Title | EuropEos Commentary |
Series Details | No. 10, 26 May 2011 |
Publication Date | 26/05/2011 |
Content Type | Journal | Series | Blog |
Abstract: Based on the latest round of difficulties to emerge from the Greek financial assistance programme, this commentary concludes that there are serious flaws in the design of the eurozone’s crisis management system that periodically push the members to the brink of financial meltdown. He warns that the same is bound to happen again with Ireland and Portugal, and each time with higher risks that the fabric of cooperation within the eurozone will tear irreparably. In order to fix them, he proposes three basic changes to the crisis management arrangements and the design of the European Stabilty Mechanism (ESM) decided in March by the European Council. |
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Source Link | http://aei.pitt.edu/58430/ |
Subject Categories | Economic and Financial Affairs |
Countries / Regions | Europe |
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