More far-reaching or controversial proposals
— Quite tellingly, some of the more far-reaching or controversial proposals
regarding the future role of the EMF have been left very broad or not
mentioned at all. The communication contains one sentence on the
possibility of developing new financial instruments in the context of a
stabilization function but does not go into any further details. The possibility
of a backstop for the controversial European Deposit Insurance is left
unmentioned. The same applies to calls for including a (automatic) debt
restructuring mechanism in the framework of the ESM such as by Bruegel
and the German Bundesbank.
EU Forecast
euf:ba.18.j:134/nws-01