Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/93236
Authors: 
Fuest, Clemens
Year of Publication: 
2014
Citation: 
[Journal:] Wirtschaftsdienst [ISSN:] 1613-978X [Publisher:] Springer [Place:] Heidelberg [Volume:] 94 [Year:] 2014 [Issue:] Sonderheft [Pages:] 11-14
Abstract (Translated): 
In the first years of the eurozone debt crisis, European governments were busy struggling to achieve short-term financial stabilisation of banks and entire countries. Now, after the OMT programme and other stabilisation measures have calmed investors, attention has shifted to two issues: Firstly, are there signs of recovery in the real economy? Secondly, what will be the long-term institutional structure of the eurozone? This paper argues that the economic situation in the periphery countries is still fragile, despite significant adjustments that have taken place. Moreover, the most important institutional challenge is to avoid a situation in which national control over fiscal policy is combined with mutualisation of government debt.
JEL: 
E60
E42
Persistent Identifier of the first edition: 
Document Type: 
Article

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