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Euro Conditionality Hinges on Positive Convergence

Author

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  • Michala Marcussen

    (Societe Generale)

Abstract

The present cocktail of a bleak economic outlook combined with high inflation and rising interest rates has raised questions as to whether a new euro debt crisis might emerge. Euro area sovereign spreads have widened, but not to “unwarranted” levels, unlike the situation that prevailed during the European debt crisis. A replay of the funding fears, which drove the euro area debt crisis a decade ago, seems unlikely today with the extensive toolkit now in place.

Suggested Citation

  • Michala Marcussen, 2022. "Euro Conditionality Hinges on Positive Convergence," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(5), pages 288-292, September.
    • Handle: RePEc:spr:intere:v:57:y:2022:i:5:d:10.1007_s10272-022-1081-2
    DOI: 10.1007/s10272-022-1081-2
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    References listed on IDEAS

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    1. Eisenschmidt, Jens & Ma, Yiming & Zhang, Anthony Lee, 2022. "Monetary policy transmission in segmented markets," Working Paper Series 2706, European Central Bank.
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    More about this item

    Keywords

    F36; H63; H68;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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