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Quadrio Curzio, Alberto
3 articles of this author have been cited in the European Press Review so far.
Euro bonds as a birthday gift
Ten years ago, on 1 January 2002, the euro was introduced. The debt crisis is casting a cloud over an anniversary that should be celebrated despite everything - with more European integration and the introduction of euro bonds, the liberal-conservative daily Corriere della Sera writes: "The advantages the euro has brought for the countries of the European Monetary Union (EMU) far outweigh the disadvantages. The euro has become one of the most important central bank reserve currencies outside of the EMU and on the financial markets. ... But within the Union it is now crucial to strengthen the European Stability Mechanism to reduce the spiralling interest rates on the bonds of indebted countries. In addition to other measures this requires the introduction of euro bonds. Europe must understand that the process of integration should not be allowed to stall. ... Financial stability and growth-promoting measures must go hand in hand. This is the European answer to the crisis and hopefully also that of the upcoming EU summit."
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More from the press review on the subject » EU Policy, » Fiscal Policy, » Economic Policy, » Europe
Romano Prodi and Alberto Quadrio-Curzio call for Eurobonds
German Chancellor Angela Merkel on Monday reaffirmed her strong rejection of the idea of Eurobonds. But the introduction of such bonds as well as a European Monetary Fund (EMF) would have many advantages, former Italian prime minister Romano Prodi and political scientist Alberto Quadrio-Curzio write on the business paper Il Sole 24 Ore: "The EMF would bring true innovation. It would issue Eurobonds that unite four characteristics of former proposals for European bonds. ... The advantages of the Eurobonds issued by the EMF would be enormous. The European Monetary Fund would prevent any form of opportunism in administrating the national debts of individual countries. The second advantage lies in the size of a European bond market. The average yields could be reduced in comparison with the national risk premiums. ... This would mean the Eurozone's Eurobonds could compete with US government bonds."
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More from the press review on the subject » EU Policy, » Fiscal Policy, » Europe
Germany must continue in key role for EU
The calls of German Chancellor Angela Merkel for the option to exclude countries that refuse to reform and exceed deficit limits from the Eurozone are the wrong words at the wrong time, according to conservative daily Corriere della Sera: "Angela Merkel's declaration could conjure up new and worrying scenarios not just for Greece, but also for all Euroland. Even if the Chancellor's position appeared to mainly target public opinion and Germany's parliamentarians, coming in the midst of an international financial crisis that has also affected Germany's budget and its banks' balance sheets it is too harsh in both tone and timing. ... The Greece problem is per se a small and solvable problem. A Europe in which Germany renounced the key historical role it played in the formation of the European Community would be a far greater problem."
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More from the press review on the subject » EU Policy, » Fiscal Policy, » Germany, » Greece
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