FONDO DI EMERGENZA EUROPEO
The European Union should create a European Crisis Resolution Mechanism (ECRM) which includes a procedure for restructuring sovereign debt, a Brussels-based think tank said on Tuesday. The Bruegel economic think tank has published a paper advocating a two-pronged approach to the problem: firstly, a procedure to allow debt restructuring handled by the European Commission and the European Court of Justice, and secondly, a set of rules governing financial assistance to Eurozone member states handled by the European Financial Stability Fund. [06:52 ET]
(imarketnews.com)