27 Oct 2011

The pitfalls of official first-loss bond insurance

Daniel Gros

0
Download Publication

2180 Downloads

Eurozone leaders agreed this morning on the rough outline of a package of measures designed to end the crisis in the eurozone. This commentary argues that a central pillar of the package will not work. The so-called ‘first-loss insurance’ of eurozone sovereign debt relies on an incomplete analysis of the underlying problem and the proposed solution.

Daniel Gros is Director of CEPS.

Related Publications

Browse through the list of related publications.