Germany and EU debt: The need for the mutualisation of debt
Within the recent G8 summit there were renewed calls for a mutualisation of toxic debt within the EU and for Germany to act as an increased guarantor for member debts. Moreover, there is within the UK, a growing political hostility to financially ‘bail out’ an economic club of which the nation is not a part. As the strongest economy within the Eurozone and, as the country that has fought hardest for the single currency, this dissertation analyses the case for Germany to be ‘the lender of last resort’ and questions the extent to which the single currency can survive without such a guarantor. An up to the minute dissertation title in an ever developing arena of economic study this is a dissertation that has the potential to develop as a subject matter whilst it is being written and is thus a most interesting proposal.
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