Fuest, Clemens; Heinemann, Friedrich; Schröder, Christoph - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
architecture of the euro area. The introduction of an insolvency procedure for sovereigns faces a dilemma: In the foreseeable … blueprints for sovereign insolvency procedures in the euro area and develops a 'Viable Insolvency Procedure for Sovereigns' (VIPS …A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional …