Della Posta, Pompeo; Tamborini, Roberto - 2021
The lesson of the sovereign debt crises of the 2010s, and of the outbreak of the COVID-19 pandemic is that EMU … means providing a monetary and/or fiscal emergency backstop to the irreversibility principle. Drawing on the target … moral hazard concerns. The alternative to these devices is not retaining both the EMU irreversibility and the twin …