Luis Garicano on the Future of Digital Money and Lessons Learned from the History of the Euro
Macro Musings with David Beckworth
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Navigating ECB Challenges and Euro Resilience
This chapter explores the evolution of the European Central Bank's balance sheet management, highlighting its initial focus on bank lending amid ongoing challenges from past crises. It discusses the complexities of the euro's design, particularly in relation to sovereign debt, and proposes solutions for enhancing fiscal stability within the eurozone. The need for a coordinated bankruptcy process and pro-growth reforms is emphasized to ensure resilience against future economic downturns.
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