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Econ 050

Dec 20, 2019

Since the financial crisis in 2008, the notion of a “bail out” has become something of a household term. But what about a bail in? Assistant professor Christiaan van der Kwaak researches the Eurozone, the 19 EU states that use the euro, and he says that there are still some fundamental flaws in the system feeding calls for exiting the union. Something has to give: either more nations will attempt to follow the UK’s lead and walk away from the EU, or reforms will have to be put in place to salvage the system. Van Der Kwaak says that a common EU budget could offer a way out of the current prisoner’s dilemma, but to what extent is the Dutch government prepared to get behind that idea?