05 Apr 2013

The New Bail-in Doctrine: A recipe for banking crises and depression in the eurozone

Paul De Grauwe

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This Commentary argues that the failure to recognise shared responsibility for the banking crisis in Cyprus has led to the imposition of a bail-in template that increases the risk of banking crises and economic depression in the eurozone.

Paul De Grauwe is John Paulson Professor in European Political Economy at the London School of Economics and Senior Associate Research Fellow at CEPS.