№250. Only a more active ECB can solve the euro crisis
№250. Only a more active ECB can solve the euro crisis

Author(s): Paul De Grauwe
Subject(s): Economic policy, Government/Political systems, Political economy, Financial Markets
Published by: CEPS Centre for European Policy Studies
Keywords: ECB; Euro crisis; Eurozone; Greek sovereign debt crisis; European Council; Government;
Summary/Abstract: The biggest threat for the eurozone is the contagion of the Greek sovereign debt crisis to the rest of the system. If the Greek crisis could be isolated, it would barely matter for the eurozone as a whole. After countless crisis meetings of the European Council, however, it has to be admitted that the European leaders have failed to isolate the Greek crisis and to stop the forces of contagion. The latest meeting of the heads of state or government of the euro area on July 21st is no exception.

• Details
• Contents