Conditionality: High Time for Clarity

di Alessandro Leipold | 23 settembre 2012 | 14:02

The Euro area crisis has accustomed us to disconcerting swings in sentiment. All too often, the hope raised by new – even bold – initiatives gives way to dejection, as vacillation and delays block effective implementation. Examples abound in the last two years: those presently at the forefront regard the prospects for a genuine banking union and, in the shorter term, the full deployment of the arsenal of instruments that, at least on paper, are ...