Fiscal Policy

Debt Limit Debate

File picture shows European Union member states' flags flying in front of the building of the European Parliament in Strasbourg (REUTERS/Vincent Kessler).

Opinion

Eurozone desperately needs a fiscal transfer mechanism to soften the effects of competitiveness imbalances

June 18, 2015, Henry J. Aaron

Henry Aaron comments on three intertwined issues at the heart of the current eurozone crisis -- immediate national debt obligations that cannot be met, medium-term imbalances in trade competitiveness, and long-term structural flaws.

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