A Comprehensive Approach to the Euro-Area Debt Crisis

Zsolt Darvas (), Jean Pisani-Ferry () and Andre Sapir ()

No 1110, IEHAS Discussion Papers from Institute of Economics, Hungarian Academy of Sciences

Abstract: The euro area's sovereign debt crisis continues though significant steps have been taken to resolve it. This paper proposes a comprehensive solution to the crisis based on three pillars: a plan to restore banking sector soundness in the whole euro area, a resolution of sovereign debt crisis -including a revision of EU assistance facilities and a reduction of the Greek public debt- and a strategy to foster growth and competitiveness. The paper provides novel estimates and analysis focusing on the current situation of Greece, Ireland, Portugal and Spain.

Keywords: fiscal sustainability; euro-area crisis; financial interdependence (search for similar items in EconPapers)
JEL-codes: F34 E60 H63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba
Date: 2011-02
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http://econ.core.hu/file/download/mtdp/MTDP1110.pdf (application/pdf)

Related works:
Working Paper: A comprehensive approach to the euro-area debt crisis (2011)
Working Paper: A Comprehensive Approach to the Euro-Area Debt Crisis (2011)
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Persistent link: http://EconPapers.repec.org/RePEc:has:discpr:1110

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