The European Redemption Pact: Implementation and Macroeconomic Effects

One possible solution to the sovereign debt crisis is the European Redemption Pact (ERP) proposed by the German Council of Economic Experts. The ERP provides sustainable financing conditions for participating sovereigns to facilitate bringing public debt ratios below 60% within the next 20 to 25 years. This paper describes ERP implementation and analyses the fiscal effects of participating in the ERP.

[Full text of articles can be found in the Intereconomics Archive two years after the initial publication]

• Primary Source

Intereconomics: Archive http://archive.intereconomics.eu/years/

VoxEU.org, 25.7.12: A Redemption Pact for Europe: Time to act now http://www.voxeu.org/article/redemption-pact-europe-time-act-now

EUObserver, 5.10.12: Germany backs pooling of debt, no joint liability http://euobserver.com/economic/117767

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