Athanasios Orphanides quote

In my min,d there is arguably a greater risk of a default on the debt of a U.S. state than there is on the debt of a euro-area member. I consider it unthinkable that a euro-area country would default.
Athanasios Orphanides

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Monetary Policy in an Uncertain World: Ten Years After the Crisis
Monetary Policy in an Uncertain World: Ten Years After the Crisis
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