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

In this second report in the Monitoring the Eurozone series, the authors propose a package of institutional changes that can help to restore growth and prosperity to the Eurozone, whilst at the same time being politically feasible. 

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Table of Contents

About the Authors   
Acknowledgements   
Foreword  
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    

Discussion  

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 

References 

 

 

Giancarlo Corsetti

Professor of Macroeconomics, University of Cambridge

Lars Feld

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

Ralph Koijen

Professor of Finance, University of Chicago, Booth School of Business

Lucrezia Reichlin

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

Ricardo Reis

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

Hélène Rey

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

Beatrice Weder di Mauro

Professor of International Economics, Graduate Institute of Geneva; Distinguished Fellow, INSEAD Emerging Markets Institute, Singapore; President, CEPR

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