2.04.2020 10

Thematics Views - The Eurozone's quantum leap: on the road to debt mutualisation

Published April 2, 2020

> 10 minutes

> 10 minutes


The Eurozone’s architecture does not allow it to contain all the risks arising from the current shock. Recourse to an European Stability Mechanism (ESM) credit line without strong conditionality is a de facto first step towards debt mutualisation. Looking ahead, this could pave the way to a European budget and a common debt.


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