Reinforcing the Eurozone and Protecting an Open Society

Giancarlo Corsetti, Lars Feld, Ralph Koijen, Lucrezia Reichlin, Ricardo Reis, Hélène Rey, Beatrice Weder di Mauro 25 May 2016



Table of Contents

About the Authors   
Executive Summary 

Introduction: A critical juncture for the Eurozone and the European Union 

1.    A sovereign debt restructuring regime for the Eurozone 

2.    The steady-state financial regime: Delinking the banks from sovereigns, 
        in particular from their own 

3.    Managing the transition: The quid pro quo 

4.    Refugee bonds    


Session 1 Motivation: Eurozone, where do we stand? 
Session 2 Governance of the Eurozone: Financial regulation 
Session 3 Debt overhang and fiscal stance 
Session 4 Risk and opportunities: Refugees and security, Frontex and more 




Professor of Macroeconomics, University of Cambridge; Director, Cambridge-INET

Director, Walter Eucken Institute; and Professor of Economic Policy, University of Freiburg

Professor of Finance, London Business School

Chairman and co-founder, Now-Casting Economics; Professor of Economics, London Business School; CEPR Research Fellow; Fellow of the British Academy

A.W. Phillips Professor of Economics, LSE and CEPR Research Fellow

Lord Bagri Professor of Economics, London Business School and CEPR Research Fellow

Distinguished Fellow, Emerging Markets Institute, INSEAD Singapore and Economic Policy and International Macroeconomics Professor, Gutenberg University Mainz; CEPR Research Fellow