The European Council of Economic Experts is a new CEPR initiative, created to provide a platform for the highest calibre analysis of economic developments in the Eurozone. The founding members, and the authors of this inaugural report, set a clear research agenda and define the biggest economic challenges the continent will face in the coming years to prevent a recurrence of the 2008 Global Crisis.

The first of the Monitoring the Eurozone series addresses the measures Eurozone countries need to take to guard against returning financial instability that could threaten a sustainable recovery. The authors consider stock operations, lending structures and regulatory changes in protecting sovereign debt on a national and Europe-wide level.