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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | How Europe should harness market forces to deal with sovereign credit risk |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | No |
| Status | Published in final form |
| Language |
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| Journal Title | Vox |
| Publisher | Centre for Economic Policy Research |
| Geographical Reach | international |
| Page Range | online |
| Date | 2010 |
| Abstract Text | If a European Monetary Fund does happen, how would it work? This column proposes a European Sovereign Insurance Scheme to sell bond insurance on EMU members' sovereign debt. In good times the insurance fees would allow the EMF to build up a capital cushion. In bad times, the EMF could use these funds to facilitate an orderly unwinding of the default – while imposing tough conditions. |
| Free access at | Official URL |
| Official URL | http://www.voxeu.org/index.php?q=node/4784 |
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