CEPS © 2019

Banking fragility rooted in justice failures Evidence from Ukraine
Policy Contribution

Unholy compromise in the eurozone and how to right it

by Stefano Micossi
16 July 2012

Unholy compromise in the eurozone and how to right it

Stefano Micossi

This paper reviews the causes of the ongoing crisis in the eurozone and the policies needed to restore stability in financial markets and reassure a bewildered public. Its main message is that the EU will not overcome the crisis until it has a comprehensive and convincing set of policies in place; able to address simultaneously budgetary discipline and the sovereign debt crisis, the banking crisis, adequate liquidity provision by the ECB and dismal growth. The text updates and expands on his Policy Brief contributed in the run-up to the emergency European Council meeting at the end of June.

Stefano Micossi is Director General of Assonime, Visiting Professor at the College of Europe in Bruges, Member of the Board of Directors of CEPS and Chairman of the Board of CIR Group.


About the Author


  • Author
    Stefano Micossi
    Stefano Micossi
Unholy compromise in the eurozone and how to right it
Download Publication

3088 Downloads