A mechanism proposal for Eurozone sovereign debt restructuring | VOX, CEPR’s Policy Portal

A mechanism proposal for Eurozone sovereign debt restructuring | VOX, CEPR’s Policy Portal

To make the no-bailout clause credible and to enhance the effectiveness of crisis assistance, private creditors should contribute to crisis resolution in the Eurozone. This column proposes a mechanism to allow for orderly restructuring of sovereign debt as part of ESM programmes. If debt exceeds certain thresholds, the mechanism triggers an immediate maturity extension. In a second stage, a deeper debt restructuring could follow, depending on the solvency of a country. The mechanism could be easily implemented by amending ESM guidelines. 

ECFR_181_-_THE_WORLD_ACCORDING_TO_EUROPES_INSURGENT_PARTIES_NEW.pdf

ECFR_181_-_THE_WORLD_ACCORDING_TO_EUROPES_INSURGENT_PARTIES_NEW.pdf

Maximum sustainable debt: A new measure | VOX, CEPR’s Policy Portal

Maximum sustainable debt: A new measure | VOX, CEPR’s Policy Portal

This column presents a new measure of government debt – maximum sustainable debt. This measure takes account of the fact that a shortfall in growth naturally increases the probability of default, while allowing for the possibility of rollover. Applications to recent data suggest that without sufficient institutional constraints, governments will generally borrow up to a level close to the maximum that can be sustained.

... Regulatory Capture and Reform | RegBlog

A Resource List on Regulatory Capture and Reform | RegBlog

IMF : "EURO AREA POLICIES 2016 ARTICLE IV CONSULTATION"

cr16219.pdf

Sensitivity to group size in policy decision-making | VOX, CEPR’s Policy Portal

Sensitivity to group size in policy decision-making | VOX, CEPR’s Policy Portal

Evidence shows that individuals often do not act in a completely selfish manner, but rather take into account the welfare of other parties when making decisions. But how decision-makers trade off costs and benefits when the costs are dispersed among many individuals is unclear. 

Is Europe failing, or is it ‘failing forward’? - The Washington Post

Is Europe failing, or is it ‘failing forward’? - The Washington Post



Erik Jones : "Why we need a compelling vision of Europe"