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

See all articles by Daniel Gros

Daniel Gros

Centre for European Policy Studies, Brussels; CESifo (Center for Economic Studies and Ifo Institute)

Thomas Mayer

Centre for European Policy Studies (CEPS); Deutsche Bank, London

Date Written: May 17, 2010

Abstract

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

Suggested Citation

Gros, Daniel and Mayer, Thomas, How to Deal with Sovereign Default in Europe: Create the European Monetary Fund Now! (May 17, 2010). CEPS Policy Brief No. 202. Available at SSRN: https://ssrn.com/abstract=1610303

Daniel Gros (Contact Author)

Centre for European Policy Studies, Brussels ( email )

1 Place du Congres
B-1000 Brussels, 1000
Belgium

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

Thomas Mayer

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congres, 1000
Brussels, 1000
Belgium

Deutsche Bank, London ( email )

Winchester House
Great Winchester Street, 1
London EC2N 2DB
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
803
rank
28,849
Abstract Views
2,514
PlumX Metrics