The future for Eurozone financial stability policy

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Title: The future for Eurozone financial stability policy
Authors: Whelan, Karl
Permanent link: http://hdl.handle.net/10197/2660
Date: Sep-2010
Abstract: The past few months have exposed serious problems in relation to Europe’s ability to cope with financial stress. Placing the new Financial Stability funds on a permanent basis, in the form of a new European Monetary Fund will be required if Europe is to deal effectively with the serious debt problems of some Eurozone countries. However, this fund should exist to manage sovereign defaults in an orderly manner, not to prevent them altogether. Bank supervisors also need to publish regular stress tests, change their regulations on the risk weighting of sovereign debt and put new resolution procedures in place. Together, these reforms will allow Europe to deal with future sovereign debt problems without provoking a crisis.
Funding Details: Not applicable
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Subject LCSH: Economic stabilization--European Union countries
Financial crises--European Union countries
Euro
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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