Mersch, Yves - Robert Schuman Centre for Advanced Studies (RSCAS), … - 2011
Several euro area member states are under increased market scrutiny although public finances in the euro area as a bloc … are in a much better shape than in the US or Japan. The main reason is that the euro area is an alliance of sovereign … current crisis has disclosed the weaknesses of the institutional set up of the euro area. Europe has already undertaken major …