7: Reconciliation and reform: Risk-sharing and market discipline in the Euro Area

Jeromin Zettelmeyer interviewed by Tim Phillips, 12 March 2018

Any reform of the Euro Area's fiscal and financial infrastructure must address the balance between member countries' risk-sharing and their market discipline. In this Vox Talk, Jeromin Zettelmeyer discusses the proposals put forward in a new CEPR Policy Insight, "Reconciling risk sharing with market discipline: A constructive approach to euro area reform", that sets out six reforms to improve financial stability within the Euro Area in a way that addresses the deadlock between members' currently polarised interests.