How high the firewall? Potential peripheral financing needs

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Alessandro Giovannini, Daniel Gros
Economic Policy, CEPS Commentaries
30 March 2012
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In this CEPS Commentary Alessandro Giovannini and Daniel Gros assess the decision taken at the informal Eurogroup meeting on the 30th of March to raise the lending ceiling of the European Stability Mechanism/European Financial Stability Facility, arguing that the size of the so-called 'firewall' will be insufficient, should larger member states like Spain or Italy require financial assistance.