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The Euro Area needs a public debt restructuring mechanism

2.4.2014

The Euro Area needs an orderly public debt restructuring mechanism, argue Managing Director Vesa Vihriälä and Professor Beatrice Weder di Mauro in a column published on the VoxEU portal. Making market discipline credible through an orderly debt restructuring mechanism is a promising alternative to contain moral hazard associated with mutualisation of public debt, which has […]

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