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Is financial failure an option in the EU?

27 May 2010

Is financial failure an option in the EU?

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Assessing the validity of the European Council of Ministers’ recent decision to create a $1 trillion rescue package for financially imperiled countries, CEPS Director Daniel Gros concludes that the eurozone cannot stabilise in political and economic terms in the absence of a solid framework for crisis resolution and an ability to deal with sovereign default by a member state.


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Is financial failure an option in the EU?
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