Abstract

This chapter deals with the issue of sovereign debts in the Eurozone. After a brief discussion of the reasons for their reduction, the different strategies used in the past to this end are considered. It is argued that they either are not viable today or can assure only limited results. Thus, the policy of accumulating primary surpluses seems the only practicable. However, the alternative of restructuring has been investigated with growing attention. Two distinct perspectives have been followed. On one side, a number of proposals deal with the issue of existing debt. There are reasons to doubt that they are substantially different from the policies currently followed. On the other side, several projects are aimed to establish a permanent insolvency mechanism for sovereigns, with the purpose of making effective the no bail-out principle. The question is raised if they are feasible in the absence of any element of fiscal union.

Autore Pugliese

• Longobardi Ernesto

Tutti gli autori

• PEDONE A.;LONGOBARDI E.

Titolo volume/Rivista

Non Disponibile

Anno di pubblicazione

2018

ISSN

Non Disponibile

ISBN

Non Disponibile

Numero di citazioni Wos

Nessuna citazione

Ultimo Aggiornamento Citazioni

Non Disponibile

Numero di citazioni Scopus

Non Disponibile

Ultimo Aggiornamento Citazioni

Non Disponibile

Settori ERC

Non Disponibile

Codici ASJC

Non Disponibile