Engler, Philipp; Große Steffen, Christoph - In: DIW Economic Bulletin 4 (2014) 10, pp. 28-38
The cost of state bankruptcy in the euro area is incalculable due to the repercussions for the financial system. As a result of contagion effects, there is a risk that the entire Monetary Union could be pushed into deep recession. This forces euro area member states to implement rescue packages...