Wendorff, Karsten; Mahle, Alexander - In: Wirtschaftsdienst 95 (2015) 9, pp. 604-608
The financial and sovereign debt crisis revealed major shortcomings in the regulatory framework of the European … Monetary Union (EMU), in particular with respect to securing financial stability in case of sovereign debt distress. In order … to address these deficiencies, the authors propose to change the contractual terms of the euro area's sovereign debt …