Predictions for a common euro-denominated safe asset, as well as a distinct fiscal capacity, remain crucial, particularly for the interdependent economies of the Eurozone, operating under the restrictions of the Stability and Growth Pact (SGP) while no longer being able to utilize the tool of exchange policy. Therefore, even if a decisive response to the financial consequences of the coronavirus pandemic is achieved, the Eurozone will still remain vulnerable to the inescapable asymmetrical financial shock, writes Dimitra Tsigkou for her article published by capital.gr.
You can read the full article in Greek here.
