Economists call for European stabilisation fund

The absence of a single European debt market is holding the euro back as a reserve currency in a time of extreme risk aversion, argue Daniel Gros and Stefano Micossi.

In an article in the latest edition of Central Banking journal, published on 8 December, Gros and Micossi, director and board member at the Centre for European Policy Studies (CEPS) in Brussels respectively, argue: "In the United States and Japan, public debt carries no risk because, if needed, the government could always force

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