03/11/2014
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19/08/2014
While individual stimulus by countries with high debt-to-GDP ratios may run the risk of triggering further financial crises, solidification of the monetary union through the creation of a common fiscal capacity would reduce uncertainty about individual countries' solvency both in the short and in the longer term. In addition, a basic European unemployment insurance scheme would strengthen the EMU institutionally, politically and in terms of social cohesion. (Intereconomics, Volume 49, July/August 2014, Number 4)
