Robin Brooks says the euro zone should preserve a credible risk of sovereign default if it wants to function like a true currency union. He argues ECB moves to cap yields, including for countries like France, weaken fiscal discipline and encourage overspending.
published
Robin Brooks says the euro zone should preserve a credible risk of sovereign default if it wants to function like a true currency union. He argues ECB moves to cap yields, including for countries like France, weaken fiscal discipline and encourage overspending
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