BCE Matematikai Közgazdaságtan és Gazdaságelemzés tanszék
Abstract
The euro area‘s sovereign debt crisis continues though significant steps have been taken to
resolve it. This paper proposes a comprehensive solution to the crisis based on three pillars: a
plan to restore banking sector soundness in the whole euro area, a resolution of sovereign debt
crisis -including a revision of EU assistance facilities and a reduction of the Greek public
debt- and a strategy to foster growth and competitiveness. The paper provides novel estimates
and analysis focusing on the current situation of Greece, Ireland, Portugal and Spain
