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Previous research suggests a form of ‘democratic constraint’ blocks attempts to reform the euro. While voters in creditor countries oppose debt sharing across the Eurozone, voters in debtor countries are unwilling to push for change by threatening to leave the single currency. Drawing on a new study, Lucio Baccaro, Björn Bremer and Erik Neimanns claim this argument overlooks the fact citizens in debtor countries are receptive to information about the costs of remaining in the euro, and that citizens in creditor countries are concerned about the costs of a breakup.
