The Eurozone is stuck in an inefficient equilibrium with high public debt and no policy discipline. The no-bailout rule …

eastern and southeastern Europe but also the United Kingdom, where the political fallout from post-financial crisis populism … segments of its membership. The crisis programs, with Greece, Ireland, Portugal and Cyprus, all revolved around debt …The book explores the Fund's engagement in Europe in the aftermath of the 2008 global financial crisis, and especially …

crisis and the resulting convergence in economic outcomes across the Euro block. Specifications that exclude this novel … factor instead imply that the central bank played little role in ending the crisis. I argue that this new factor reflects ECB … communications that respond to certain countries' conditions beyond their share of Euro area activity, mostly during the crisis …