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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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