Economics
Soros-Backed Group Urges ECB Action, Bank Union to End Crisis
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Ending the euro-zone debt crisis requires greater political union and European-level banking insurance as well as more aggressive action by the European Central Bank, a band of economists said.
The report by the Institute for New Economic Thinking, a research institute founded by billionaire investor George Soros, rejected calls for permanent joint debt issuance, nor did it endorse fiscal transfers between the 17 members of the currency zone.