How to reconcile risk sharing and market discipline in the euro area | VOX, CEPR Policy Portal

How to reconcile risk sharing and market discipline in the euro area | VOX, CEPR Policy Portal

The euro area continues to suffer from critical weaknesses that are the result of a poorly designed fiscal and financial architecture, but its members are divided on how to address the problems. This column proposes six reforms which, if delivered as a package, would improve the euro area’s financial stability, political cohesion, and potential for delivering prosperity to its citizens, all while addressing the priorities and concerns of participating countries.