| Author (Person) | Leblond, Patrick |
|---|---|
| Series Title | Journal of Common Market Studies |
| Series Details | Vol.44, No.5, December 2006, p969-990 |
| Publication Date | December 2006 |
| ISSN | 0021-9886 |
| Content Type | Journal | Series | Blog |
|
Abstract: Euro area countries suspended the excessive deficit procedure (EDP) of the Stability and Growth Pact in November 2003. Surprisingly perhaps, long-term European government bond-holders did not react: yields barely moved. Owing to its political nature, the EDP does not matter for investors. What matters is the implicit economic pact that investors have made with Member State governments. |
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| Source Link | http://onlinelibrary.wiley.com/ |
| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
