And one may wonder how far the depth of our shallow capital markets can be sounded, and whether the side effects of our measures would not outweigh the benefits at some point in the future. A second possible, and complementary, option is to coordinate economic policies more closely.
There is no getting around the fact: the combination of national sovereignty and common solidarity can pose a risk for the stability of our monetary union. A high degree of solidarity certainly helps a country in crisis to cope in the short-run.