This ELEC proposal is designed to provide a degree of mutual support that will be sufficient to allow adequate time to States that are themselves trying to restore their competitiveness and the sustainability of their public finances. Then they can demonstrate to their creditors that the first fruits of good policies are visible, and that the policies are entrenched into their political structure in a way that limits the risk of sudden reversal.
If the eurozone demonstrates that it is on track to meet these initial economic (and political) goals of renewed competitiveness and sound public finance, then its individual Members will have a compelling story to tell the investors of the world.
Presentation of proposal by Wim Boonstra, ELEC President of Monetary Commission, at ECMI/CEPS seminar 'Sovereign Bond Markets in State of Flux', 6th March 2012.
Full downloadable document at foot of page.
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