Busch, Berthold; Jäger-Ambrożewicz, Manfred; Matthes, … - 2010
created by the Maastricht Treaty on European Union and the Stability and Growth Pact have not been able to prevent a situation … like the one which has arisen in Greece. The European Monetary Union (EMU) faces a dilemma. On the one hand, the member … countries want to avoid moral hazard; on the other, governments do not want an EMU member state to default. To avoid harming the …