Whatever the merits of the fiscal compact–and these are questionable in an era of low growth–it doesn’t address the fundamental solvency problems in the Eurozone.”
—Gavan Nolan, credit analyst at Markit, in response to the agreement by E.U. leaders on the new fiscal compact and the structure of the European Stability Mechanism.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts
