de Grauwe, Paul (2010) A mechanism of self-destruction of the eurozone. CEPS commentaries, Centre for European Policy Studies, Brussels, Belgium.Full text not available from this repository.
Drawing an analogy with the ill-fated Exchange Rate Mechanism (ERM) of the pre-eurozone era, Paul De Grauwe argues in a new CEPS Commentary that the creation of a sovereign debt default mechanism is a very bad decision that will make the eurozone more fragile by making financial crises an endemic feature.
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