Growth sharing rights: the instrument to save the eurozone? - opinion

Author: | Published: 19 Nov 2012

Despite recent calm in the eurozone sovereign debt market, the economic struggles of certain member states – including Greece, Spain and Portugal – are stark reminders that the underlying economic and structural problems of those states are far from resolved. The economic hardship and the resulting political upheaval in various regions of the eurozone pose a real threat to the growth prospects and stability of the global economy.

In recent months, the limitations of the primarily austerity-driven measures pursued to date have become painfully apparent. And an alternative, holistic solution to the debt crisis continues to elude a conceptual and political consensus among the eurozone states. Any holistic solution must enable the periphery states to resume their economic growth. But it must also assure the core states that they are...