№239. Can the eurozone countries still live together happily ever after?
№239. Can the eurozone countries still live together happily ever after?
Author(s): Marcello Messori
Subject(s): Economic policy, Government/Political systems, Political economy, EU-Accession / EU-DEvelopment, Financial Markets
Published by: CEPS Centre for European Policy Studies
Keywords: Eurozone countries; Greek public debt crisis; European Monetary Union; Europe’s sovereign debt; Government bond spreads;
Summary/Abstract: After the Greek public debt crisis and the bilateral loans to Greece from the other members of the European Monetary Union (EMU), in May 2010 the Ecofin Council launched the European Financial Stabilization Mechanism (EFSM). In June of the same year the EMU countries instituted the European Financial Stability Facility (EFSF). These two mechanisms, which are charged with providing support to EMU countries in “exceptional difficulty”, received their baptism of fire with Ireland in January 2011 and successfully made their first bond issue on the market.
Series: CEPS Policy Briefs
- Page Count: 9
- Publication Year: 2011
- Language: English
- Content File-PDF