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The creation of euro area financial safety nets

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  • Michiel Bijlsma
  • Shahin Vallée

Abstract

The financial crisis has exposed the need to devise stronger and broader international and regional safety nets in order to deal with economic and financial shocks and allow for countries to adjust. The euro area has developed several such mechanisms over the last couple of years through a process of trial and error and gradual enhancement and expansion. Their overall architecture remains imperfect and leaves areas of vulnerabilities. This paper...

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  • Michiel Bijlsma & Shahin Vallée, 2012. "The creation of euro area financial safety nets," Working Papers 732, Bruegel.
    • Handle: RePEc:bre:wpaper:732
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    References listed on IDEAS

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    Cited by:

    1. Alexandra M. D. Hild & Bernhard Herz & Christian Bauer, 2016. "The European Stability Mechanism - bastion of calm or crisis accelerant?," Research Papers in Economics 2016-12, University of Trier, Department of Economics.
    2. Niels Gilbert & Jeroen Hessel & Silvie Verkaart, 2013. "Towards a Stable Monetary Union: What Role for Eurobonds?," DNB Working Papers 379, Netherlands Central Bank, Research Department.
    3. Jakob de Haan & Jeroen Hessel & Niels Gilbert, 2014. "Reforming the architecture of EMU: Ensuring stability in Europe," DNB Working Papers 446, Netherlands Central Bank, Research Department.
    4. Herz, Bernhard & Bauer, Christian & Hild, Alexandra, 2016. "Designing the ESM—Who Profits, Who Pays?," VfS Annual Conference 2016 (Augsburg): Demographic Change 145709, Verein für Socialpolitik / German Economic Association.

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