As was to be expected, Europe's suburbs are in deeper, shall we say, crisis. A systemic response appears to be in order.
Collapse in Eastern Europe? The rationale for a European Financial Stability
Daniel Gros © voxEU.org
25 February 2009
The European periphery faces significant economic turmoil. This column argues that Eastern European woes threaten the core of Europe and necessitate a systemic response. It proposes a new, massive European Financial Stability Fund (involving about 5% of EU GDP) run through the European Investment Bank.
Read the article here.