The Sovereign Debt Crisis in Europe, Save Banks Not States
The European central bank is a bank of banks but not a bank of states. This reduces the capabilities of member states to finance deficits. The role of the central bank to cope with the debt crises is institutionally more limited than in most other Western countries. The European Stability Mechanism...
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| Format: | Article |
| Language: | English |
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Università Carlo Cattaneo LIUC
2012-08-01
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| Series: | The European Journal of Comparative Economics |
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| Online Access: | http://eaces.liuc.it/18242979201202/182429792012090201.pdf |