1 论文标题Resolving the Eurozone crisis: Time for conditional eurobonds


2 作者信息
John Muellbauer
3 出处和链接（比如，NBER working paper No.11000）
CEPR Policy Insight No. 59   http://www.cepr.org/pubs/PolicyInsights/PolicyInsight59.pdf
4 摘要
The  Eurozone  is  now  in  an  existential  crisis. Weak fiscal discipline; profound differences in  labour  market,  credit,  and  housing
institutions; failures in financial regulation and a common interest rate have led to unsustainable internal imbalances in the common currency area.
These are visible in divergences in competitiveness, unsustainable government, and private debt to GDP ratios as well as in other symptoms such as
persistent balance of payments deficits. On top of this comes the financial fraud committed by Greek politicians and civil servants from pre-entry to
2009 that in scale dwarfs that of financier Bernard Madoff. This marks Greece out as a special case, currently an important distinction.