Can the Eurozone Countries Still Live Together Happily Ever after?

CEPS Policy Briefs

9 Pages Posted: 4 Apr 2011

See all articles by Marcello Messori

Marcello Messori

University of Rome, Tor Vergata - Faculty of Economics

Date Written: March 21, 2011

Abstract

After the Greek public debt crisis and the bilateral loans to Greece from the other members of the European Monetary Union (EMU), in May 2010 the Ecofin Council launched the European Financial Stabilization Mechanism (EFSM). In June of the same year the EMU countries instituted the European Financial Stability Facility (EFSF). These two mechanisms, which are charged with providing support to EMU countries in “exceptional difficulty”, received their baptism of fire with Ireland in January 2011 and successfully made their first bond issue on the market.

Keywords: Greek, public debt, crisis, members, European Monetary Union, EMU, Concil, Stabilization, mechanism, countries, Ireland, issue, market

Suggested Citation

Messori, Marcello, Can the Eurozone Countries Still Live Together Happily Ever after? (March 21, 2011). CEPS Policy Briefs. Available at SSRN: https://ssrn.com/abstract=1797585

Marcello Messori (Contact Author)

University of Rome, Tor Vergata - Faculty of Economics ( email )

Via Columbia n.2
Rome, rome 00100
Italy

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