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Monthly Archives: November 2011

Unfortunately for the Eurozone’s Core, Moral Hazard is Nothing Compared to a Breakup

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One argument against bold solutions to the Eurozone debt crisis, such as issuing common Eurobonds or extending bond purchases of indebted sovereigns by the European Central Bank (ECB) has been the issue of moral hazard associated with such solutions. According to this argument, bailing out states that have racked up unsustainable debts through years of […]

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