Tuesday, December 6, 2011

European Debt Crisis Plan

Last Thursday, European leaders began to unveil a plan to address the region’s sovereign debt crisis “once and for all.” Individual statements made last week as well as a joint statement Monday from French President Nicolas Sarkozy and German Chancellor Angela Merkel have outlined a common position that will be presented to the European Commission at its December 9th meeting. The heart of this plan involves European nations ceding fiscal sovereignty for tighter budgetary constraints. In exchange for these measures, markets expect the European Central Bank to step in and take aggressive actions to stabilize debt markets.

For a more in depth analysis of the plan, read our paper here.

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