Kokert, Marius; Schäfer, Dorothea; Stephan, Andreas - In: DIW Wochenbericht 81 (2014) 7, pp. 115-126
Member states of the euro area have been struggling with the legacies of the severe financial and economic crisis for … halve its debt with no haircuts. The crisis countries of the euro area were able to "buy time" with bailout packages and low … the current stabilization of the euro debt crisis is sustainable. The ECB's low interest rate policy undoubtedly offers …