Why Europe needs automatic haircuts

DISCLAIMER: All opinions in this column reflect the views of the author(s), not of EURACTIV.COM Ltd.

The euro zone requires automatic "haircuts" to accompany its bailouts as the currency union cannot be maintained without market discipline, writes Hans-Werner Sinn, an economist at the University of Munich.

Subscribe to our newsletters

Subscribe

Want to know what's going on in the EU Capitals daily? Subscribe now to our new 9am newsletter.