Destais, Christophe; Eidam, Frederik; Heinemann, Friedrich - 2019
This paper critically assesses several dimensions of a sovereign debt restructuring mechanism (SDRM) for the euro area … for an appropriate euro area SDRM design can benefit from complementarities. Ambition in one dimension can offer more … for a euro area SDRM, as there are ways to combine the opportunities of a credible SDRM with financial stability. …