How to Deal with Sovereign Default in Europe: Create the European Monetary Fund Now!
CEPS Policy Brief No. 202
11 Pages Posted: 19 May 2010
Date Written: May 17, 2010
Despite cobbling together an impressive $1 trillion rescue package for countries with potential funding problems, the threat of a disorderly default still looms over the eurozone, creating systemic financial instability at the EU and possibly global level. Against this background, Daniel Gros and Thomas Mayer renew their call for the creation of a European Monetary Fund (EMF) in an update to their Policy Brief issued in February.
Keywords: eurozone, euro, crisis,financial instability, EU, European Monetary Fund, EMF
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