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Crisis Cycle: Challenges, Evolution, and Future of the Euro John H. Cochrane, Luis Garicano, Klaus Masuch ebook

• Page: 328
• Format: pdf / epub / kindle
• ISBN: 9780691271613
• Publisher: Princeton University Press

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Overview How the euro survived a series of crises, and how to make it more resilient

The euro has survived crises unimagined at its founding: the financial meltdown of 2007–2009, the sovereign debt crisis of 2010–2012, the pandemic, and the Russian invasion of Ukraine. The European Central Bank fought these crises with dramatic policy innovations, buying up vast amounts of debt and providing large loans to banks. But now everyone expects the ECB to intervene routinely, and the euro is more fragile...