The Euro crisis: An agenda for reform

The author, Alan Dukes, looks at the euro crisis as a whole, offering first a diagnosis and then a prescription for action which includes: a credible analysis of euro system capabilities, the construction of a 'wall of money', a provision for loss funding and sharing that will make sovereign debt positions sustainable on the basis of credible fiscal policy structures, a realistic assessment of actions required to deal with banking system exposures, a strategic review of the shape of banking and financial sector regulation, and a process to assess the need for further Treaty change.

On this basis he evaluates the actions taken at the December 2011 European Council and finds them lacking.