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Preventing and Resolving Banking and Sovereign Crises: Toward a New Institutional Framework

Author

Listed:
  • Jean Tirole

    (Toulouse School of Economics)

Abstract

Weak European institutions bear some responsibility for the current Eurozone crisis. The paper discusses various alleys for reforming European institutions, such as those in charge of monitoring countries and banks. It then discusses the future of solidarity within the Eurozone, as well as proposed reforms impacting risk sharing. It concludes with steps that might help restore confidence in the European Monetary Union

Suggested Citation

  • Jean Tirole, 2012. "Preventing and Resolving Banking and Sovereign Crises: Toward a New Institutional Framework," Rivista di Politica Economica, SIPI Spa, issue 3, pages 143-153, July-Sept.
  • Handle: RePEc:rpo:ripoec:y:2012:i:3:p:143-153
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    More about this item

    Keywords

    European debt crisis; golden rules; banking regulation; joint liability; bailouts; private sector involvment;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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