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Tirole, Jean
(2012)
The Euro Crisis: Some Reflexions on Institutional Reform.
Financial Stability Review (Banque de France), vol.16.
pp. 225-242.
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Abstract
The debate on the Euro crisis understandably has had a strong short term focus. Avoiding short‐term disaster has been tantamount and the long term sustainability issue sometimes neglected; yet, the institutional failure of the Eurozone forces us to reconsider current arrangements in order to restore credibility and sustainability. The article discusses various paths for the reform of the overall governance, from fiscal management to banking regulation, through the recent proposals to mutualize and repackage part of the Sovereign debts into a supranational one or to introduce joint‐and‐several liability.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | February 2012 |
| Refereed: | Yes |
| Uncontrolled Keywords: | Sovereign debt, Euro crisis, fiscal rules, Eurobonds |
| JEL Classification: | E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation F34 - International Lending and Debt Problems H63 - Debt; Debt Management |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 09 Jul 2014 17:23 |
| Last Modified: | 02 Apr 2021 15:47 |
| OAI Identifier: | oai:tse-fr.eu:25590 |
| URI: | https://publications.ut-capitole.fr/id/eprint/15208 |
