Towards a euro monetary fund
Two prominent economists argue for a pan-European Monetary Fund in order to stave off a repeat of the situation now faced by Greece.
Daniel Gros, the director of the Centre for European Policy Studies, and Thomas Mayer, the chief economist at Deutsche Bank, call for a fund "which would be capable of organising an orderly default as a measure of last resort."
Contribution would be based on 1% of the stock of excess debt, calculated as the difference between actual debt and the Maastricht criteria
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