Revisiting the Big Plan to Save the Euro

March 12, 2015 11:13 PM

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Revisiting the Big Plan to Save the Euro

It was supposed to be the missing piece in the revamped eurozone architecture, ensuring that the euro will be spared “existential threats” of the kind it faced from 2010 to 2012. Or so it was presented, back in 2012, when a quartet of top European officials tabled a plan for a “genuine” economic and monetary union.

The plan spoke of a joint budget for the eurozone, a cross-border bank-deposit guarantee program and “common debt issuance.”

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