id	sid	tid	token	lemma	pos
eistud-1087	1	1	european	european	ADJ
eistud-1087	1	2	integration	integration	NOUN
eistud-1087	1	3	studies	study	VERB
eistud-1087	1	4	2011.indd	2011.indd	NOUN
eistud-1087	1	5	125	125	NUM
eistud-1087	1	6	issn	issn	PROPN
eistud-1087	1	7	1822–8402	1822–8402	NUM
eistud-1087	1	8	european	european	ADJ
eistud-1087	1	9	integration	integration	NOUN
eistud-1087	1	10	studies	study	NOUN
eistud-1087	1	11	.	.	PUNCT
eistud-1087	2	1	2011	2011	NUM
eistud-1087	2	2	.	.	PUNCT
eistud-1087	3	1	no	no	DET
eistud-1087	3	2	5	5	NUM
eistud-1087	3	3	the	the	DET
eistud-1087	3	4	eu	eu	PROPN
eistud-1087	3	5	sovereign	sovereign	ADJ
eistud-1087	3	6	debt	debt	NOUN
eistud-1087	3	7	crisis	crisis	NOUN
eistud-1087	3	8	and	and	CCONJ
eistud-1087	3	9	„	„	PUNCT
eistud-1087	3	10	european	european	ADJ
eistud-1087	3	11	bonds	bond	NOUN
eistud-1087	3	12	“	"	PUNCT
eistud-1087	3	13	option	option	NOUN
eistud-1087	3	14	algis	algis	ADJ
eistud-1087	3	15	junevicius	junevicius	NOUN
eistud-1087	3	16	,	,	PUNCT
eistud-1087	3	17	egidijus	egidiju	VERB
eistud-1087	3	18	liutkus	liutkus	PROPN
eistud-1087	3	19	kaunas	kaunas	PROPN
eistud-1087	3	20	university	university	PROPN
eistud-1087	3	21	of	of	ADP
eistud-1087	3	22	technology	technology	PROPN
eistud-1087	3	23	,	,	PUNCT
eistud-1087	3	24	institute	institute	PROPN
eistud-1087	3	25	of	of	ADP
eistud-1087	3	26	europe	europe	PROPN
eistud-1087	3	27	abstract	abstract	ADV
eistud-1087	3	28	after	after	SCONJ
eistud-1087	3	29	the	the	DET
eistud-1087	3	30	financial	financial	ADJ
eistud-1087	3	31	crisis	crisis	NOUN
eistud-1087	3	32	economies	economy	NOUN
eistud-1087	3	33	with	with	ADP
eistud-1087	3	34	existing	exist	VERB
eistud-1087	3	35	deficits	deficit	NOUN
eistud-1087	3	36	usually	usually	ADV
eistud-1087	3	37	are	be	AUX
eistud-1087	3	38	in	in	ADP
eistud-1087	3	39	danger	danger	NOUN
eistud-1087	3	40	to	to	PART
eistud-1087	3	41	go	go	VERB
eistud-1087	3	42	to	to	ADP
eistud-1087	3	43	default	default	NOUN
eistud-1087	3	44	due	due	ADJ
eistud-1087	3	45	to	to	ADP
eistud-1087	3	46	uncontrolled	uncontrolled	ADJ
eistud-1087	3	47	borrowing	borrowing	NOUN
eistud-1087	3	48	paces	pace	NOUN
eistud-1087	3	49	.	.	PUNCT
eistud-1087	4	1	all	all	DET
eistud-1087	4	2	the	the	DET
eistud-1087	4	3	members	member	NOUN
eistud-1087	4	4	of	of	ADP
eistud-1087	4	5	the	the	DET
eistud-1087	4	6	european	european	PROPN
eistud-1087	4	7	monetary	monetary	PROPN
eistud-1087	4	8	union	union	PROPN
eistud-1087	4	9	have	have	AUX
eistud-1087	4	10	violated	violate	VERB
eistud-1087	4	11	treaty	treaty	NOUN
eistud-1087	4	12	limits	limit	NOUN
eistud-1087	4	13	on	on	ADP
eistud-1087	4	14	allowable	allowable	ADJ
eistud-1087	4	15	budget	budget	NOUN
eistud-1087	4	16	deficits	deficit	NOUN
eistud-1087	4	17	–	–	PUNCT
eistud-1087	4	18	some	some	PRON
eistud-1087	4	19	of	of	ADP
eistud-1087	4	20	the	the	DET
eistud-1087	4	21	members	member	NOUN
eistud-1087	4	22	have	have	VERB
eistud-1087	4	23	four	four	NUM
eistud-1087	4	24	times	time	NOUN
eistud-1087	4	25	larger	large	ADJ
eistud-1087	4	26	deficit	deficit	NOUN
eistud-1087	4	27	.	.	PUNCT
eistud-1087	5	1	such	such	DET
eistud-1087	5	2	a	a	DET
eistud-1087	5	3	development	development	NOUN
eistud-1087	5	4	clearly	clearly	ADV
eistud-1087	5	5	suggests	suggest	VERB
eistud-1087	5	6	that	that	SCONJ
eistud-1087	5	7	some	some	DET
eistud-1087	5	8	countries	country	NOUN
eistud-1087	5	9	in	in	ADP
eistud-1087	5	10	european	european	PROPN
eistud-1087	5	11	union	union	PROPN
eistud-1087	5	12	might	might	AUX
eistud-1087	5	13	become	become	VERB
eistud-1087	5	14	insolvent	insolvent	ADJ
eistud-1087	5	15	,	,	PUNCT
eistud-1087	5	16	since	since	SCONJ
eistud-1087	5	17	their	their	PRON
eistud-1087	5	18	net	net	ADJ
eistud-1087	5	19	external	external	ADJ
eistud-1087	5	20	debt	debt	NOUN
eistud-1087	5	21	is	be	AUX
eistud-1087	5	22	really	really	ADV
eistud-1087	5	23	large	large	ADJ
eistud-1087	5	24	measure	measure	NOUN
eistud-1087	5	25	to	to	ADP
eistud-1087	5	26	the	the	DET
eistud-1087	5	27	size	size	NOUN
eistud-1087	5	28	of	of	ADP
eistud-1087	5	29	their	their	PRON
eistud-1087	5	30	economies	economy	NOUN
eistud-1087	5	31	.	.	PUNCT
eistud-1087	6	1	after	after	SCONJ
eistud-1087	6	2	financial	financial	ADJ
eistud-1087	6	3	crisis	crisis	NOUN
eistud-1087	6	4	economies	economy	NOUN
eistud-1087	6	5	back	back	ADV
eistud-1087	6	6	to	to	ADP
eistud-1087	6	7	the	the	DET
eistud-1087	6	8	recovery	recovery	NOUN
eistud-1087	6	9	after	after	ADP
eistud-1087	6	10	a	a	DET
eistud-1087	6	11	period	period	NOUN
eistud-1087	6	12	of	of	ADP
eistud-1087	6	13	3	3	NUM
eistud-1087	6	14	or	or	CCONJ
eistud-1087	6	15	4	4	NUM
eistud-1087	6	16	years	year	NOUN
eistud-1087	6	17	.	.	PUNCT
eistud-1087	7	1	therefore	therefore	ADV
eistud-1087	7	2	economies	economy	NOUN
eistud-1087	7	3	are	be	AUX
eistud-1087	7	4	shrinking	shrink	VERB
eistud-1087	7	5	or	or	CCONJ
eistud-1087	7	6	growing	grow	VERB
eistud-1087	7	7	rate	rate	NOUN
eistud-1087	7	8	is	be	AUX
eistud-1087	7	9	very	very	ADV
eistud-1087	7	10	slight	slight	ADJ
eistud-1087	7	11	.	.	PUNCT
eistud-1087	8	1	due	due	ADP
eistud-1087	8	2	to	to	ADP
eistud-1087	8	3	these	these	DET
eistud-1087	8	4	processes	process	NOUN
eistud-1087	8	5	it	it	PRON
eistud-1087	8	6	is	be	AUX
eistud-1087	8	7	really	really	ADV
eistud-1087	8	8	big	big	ADJ
eistud-1087	8	9	challenge	challenge	NOUN
eistud-1087	8	10	to	to	PART
eistud-1087	8	11	bring	bring	VERB
eistud-1087	8	12	these	these	DET
eistud-1087	8	13	deficits	deficit	NOUN
eistud-1087	8	14	back	back	ADV
eistud-1087	8	15	to	to	ADP
eistud-1087	8	16	satisfactory	satisfactory	ADJ
eistud-1087	8	17	level	level	NOUN
eistud-1087	8	18	.	.	PUNCT
eistud-1087	9	1	governments	government	NOUN
eistud-1087	9	2	then	then	ADV
eistud-1087	9	3	have	have	VERB
eistud-1087	9	4	to	to	PART
eistud-1087	9	5	go	go	VERB
eistud-1087	9	6	to	to	ADP
eistud-1087	9	7	the	the	DET
eistud-1087	9	8	market	market	NOUN
eistud-1087	9	9	and	and	CCONJ
eistud-1087	9	10	ask	ask	VERB
eistud-1087	9	11	for	for	ADP
eistud-1087	9	12	additional	additional	ADJ
eistud-1087	9	13	debt	debt	NOUN
eistud-1087	9	14	to	to	PART
eistud-1087	9	15	cover	cover	VERB
eistud-1087	9	16	its	its	PRON
eistud-1087	9	17	deficit	deficit	NOUN
eistud-1087	9	18	.	.	PUNCT
eistud-1087	10	1	these	these	DET
eistud-1087	10	2	countries	country	NOUN
eistud-1087	10	3	,	,	PUNCT
eistud-1087	10	4	if	if	SCONJ
eistud-1087	10	5	not	not	PART
eistud-1087	10	6	aided	aid	VERB
eistud-1087	10	7	,	,	PUNCT
eistud-1087	10	8	will	will	AUX
eistud-1087	10	9	possibly	possibly	ADV
eistud-1087	10	10	default	default	VERB
eistud-1087	10	11	and	and	CCONJ
eistud-1087	10	12	will	will	AUX
eistud-1087	10	13	be	be	AUX
eistud-1087	10	14	forced	force	VERB
eistud-1087	10	15	to	to	PART
eistud-1087	10	16	restructure	restructure	VERB
eistud-1087	10	17	their	their	PRON
eistud-1087	10	18	debt	debt	NOUN
eistud-1087	10	19	.	.	PUNCT
eistud-1087	11	1	this	this	DET
eistud-1087	11	2	argument	argument	NOUN
eistud-1087	11	3	is	be	AUX
eistud-1087	11	4	the	the	DET
eistud-1087	11	5	reason	reason	NOUN
eistud-1087	11	6	why	why	SCONJ
eistud-1087	11	7	european	european	ADJ
eistud-1087	11	8	commission	commission	PROPN
eistud-1087	11	9	and	and	CCONJ
eistud-1087	11	10	prime	prime	ADJ
eistud-1087	11	11	ministers	minister	NOUN
eistud-1087	11	12	of	of	ADP
eistud-1087	11	13	european	european	PROPN
eistud-1087	11	14	union	union	PROPN
eistud-1087	11	15	make	make	VERB
eistud-1087	11	16	a	a	DET
eistud-1087	11	17	lot	lot	NOUN
eistud-1087	11	18	of	of	ADP
eistud-1087	11	19	play	play	NOUN
eistud-1087	11	20	on	on	ADP
eistud-1087	11	21	discussions	discussion	NOUN
eistud-1087	11	22	about	about	ADP
eistud-1087	11	23	present	present	ADJ
eistud-1087	11	24	and	and	CCONJ
eistud-1087	11	25	future	future	ADJ
eistud-1087	11	26	sovereign	sovereign	ADJ
eistud-1087	11	27	debt	debt	NOUN
eistud-1087	11	28	issues	issue	NOUN
eistud-1087	11	29	,	,	PUNCT
eistud-1087	11	30	not	not	PART
eistud-1087	11	31	only	only	ADV
eistud-1087	11	32	regarding	regard	VERB
eistud-1087	11	33	the	the	DET
eistud-1087	11	34	certain	certain	ADJ
eistud-1087	11	35	countries	country	NOUN
eistud-1087	11	36	,	,	PUNCT
eistud-1087	11	37	but	but	CCONJ
eistud-1087	11	38	the	the	DET
eistud-1087	11	39	entire	entire	ADJ
eistud-1087	11	40	eu	eu	PROPN
eistud-1087	11	41	.	.	PUNCT
eistud-1087	12	1	the	the	DET
eistud-1087	12	2	italian	italian	ADJ
eistud-1087	12	3	finance	finance	NOUN
eistud-1087	12	4	minister	minister	PROPN
eistud-1087	12	5	giulio	giulio	PROPN
eistud-1087	12	6	tremonti	tremonti	PROPN
eistud-1087	12	7	and	and	CCONJ
eistud-1087	12	8	luxembourg	luxembourg	PROPN
eistud-1087	12	9	’s	’s	PART
eistud-1087	12	10	prime	prime	PROPN
eistud-1087	12	11	minister	minister	PROPN
eistud-1087	12	12	jean	jean	PROPN
eistud-1087	12	13	-	-	PUNCT
eistud-1087	12	14	claude	claude	PROPN
eistud-1087	12	15	juncker	juncker	PROPN
eistud-1087	12	16	,	,	PUNCT
eistud-1087	12	17	in	in	ADP
eistud-1087	12	18	an	an	DET
eistud-1087	12	19	article	article	NOUN
eistud-1087	12	20	which	which	PRON
eistud-1087	12	21	appeared	appear	VERB
eistud-1087	12	22	in	in	ADP
eistud-1087	12	23	the	the	DET
eistud-1087	12	24	financial	financial	ADJ
eistud-1087	12	25	times	time	NOUN
eistud-1087	12	26	on	on	ADP
eistud-1087	12	27	5	5	NUM
eistud-1087	12	28	december	december	NOUN
eistud-1087	12	29	,	,	PUNCT
eistud-1087	12	30	launched	launch	VERB
eistud-1087	12	31	the	the	DET
eistud-1087	12	32	proposal	proposal	NOUN
eistud-1087	12	33	to	to	PART
eistud-1087	12	34	issue	issue	VERB
eistud-1087	12	35	the	the	DET
eistud-1087	12	36	“	"	PUNCT
eistud-1087	12	37	european	european	ADJ
eistud-1087	12	38	bonds	bond	NOUN
eistud-1087	12	39	”	"	PUNCT
eistud-1087	12	40	.	.	PUNCT
eistud-1087	13	1	in	in	ADP
eistud-1087	13	2	this	this	DET
eistud-1087	13	3	paper	paper	NOUN
eistud-1087	13	4	authors	author	NOUN
eistud-1087	13	5	follow	follow	VERB
eistud-1087	13	6	this	this	DET
eistud-1087	13	7	idea	idea	NOUN
eistud-1087	13	8	and	and	CCONJ
eistud-1087	13	9	appeal	appeal	VERB
eistud-1087	13	10	to	to	ADP
eistud-1087	13	11	obvious	obvious	ADJ
eistud-1087	13	12	arguments	argument	NOUN
eistud-1087	13	13	showing	show	VERB
eistud-1087	13	14	,	,	PUNCT
eistud-1087	13	15	that	that	SCONJ
eistud-1087	13	16	“	"	PUNCT
eistud-1087	13	17	european	european	ADJ
eistud-1087	13	18	bonds	bond	NOUN
eistud-1087	13	19	”	"	PUNCT
eistud-1087	13	20	would	would	AUX
eistud-1087	13	21	be	be	AUX
eistud-1087	13	22	great	great	ADJ
eistud-1087	13	23	cooperation	cooperation	NOUN
eistud-1087	13	24	to	to	PART
eistud-1087	13	25	control	control	VERB
eistud-1087	13	26	euro	euro	NOUN
eistud-1087	13	27	zone	zone	NOUN
eistud-1087	13	28	debt	debt	NOUN
eistud-1087	13	29	.	.	PUNCT
eistud-1087	14	1	also	also	ADV
eistud-1087	14	2	authors	author	NOUN
eistud-1087	14	3	consider	consider	VERB
eistud-1087	14	4	“	"	PUNCT
eistud-1087	14	5	european	european	ADJ
eistud-1087	14	6	bonds	bond	NOUN
eistud-1087	14	7	”	"	PUNCT
eistud-1087	14	8	as	as	ADP
eistud-1087	14	9	a	a	DET
eistud-1087	14	10	tool	tool	NOUN
eistud-1087	14	11	to	to	PART
eistud-1087	14	12	solve	solve	VERB
eistud-1087	14	13	eu	eu	PROPN
eistud-1087	14	14	debt	debt	NOUN
eistud-1087	14	15	crisis	crisis	NOUN
eistud-1087	14	16	and	and	CCONJ
eistud-1087	14	17	ensure	ensure	VERB
eistud-1087	14	18	future	future	ADJ
eistud-1087	14	19	financial	financial	ADJ
eistud-1087	14	20	stability	stability	NOUN
eistud-1087	14	21	of	of	ADP
eistud-1087	14	22	all	all	DET
eistud-1087	14	23	eu	eu	PROPN
eistud-1087	14	24	countries	country	NOUN
eistud-1087	14	25	.	.	PUNCT
eistud-1087	15	1	the	the	DET
eistud-1087	15	2	“	"	PUNCT
eistud-1087	15	3	european	european	ADJ
eistud-1087	15	4	bonds	bond	NOUN
eistud-1087	15	5	”	"	PUNCT
eistud-1087	15	6	idea	idea	NOUN
eistud-1087	15	7	is	be	AUX
eistud-1087	15	8	not	not	PART
eistud-1087	15	9	new	new	ADJ
eistud-1087	15	10	.	.	PUNCT
eistud-1087	16	1	the	the	DET
eistud-1087	16	2	first	first	ADJ
eistud-1087	16	3	one	one	NOUN
eistud-1087	16	4	goes	go	VERB
eistud-1087	16	5	back	back	ADV
eistud-1087	16	6	to	to	ADP
eistud-1087	16	7	jacques	jacques	PROPN
eistud-1087	16	8	delors	delor	NOUN
eistud-1087	16	9	in	in	ADP
eistud-1087	16	10	the	the	DET
eistud-1087	16	11	1980s	1980s	NUM
eistud-1087	16	12	.	.	PUNCT
eistud-1087	17	1	jacques	jacques	PROPN
eistud-1087	17	2	delors	delors	PROPN
eistud-1087	17	3	proposed	propose	VERB
eistud-1087	17	4	the	the	DET
eistud-1087	17	5	issue	issue	NOUN
eistud-1087	17	6	similar	similar	ADJ
eistud-1087	17	7	bonds	bond	NOUN
eistud-1087	17	8	in	in	ADP
eistud-1087	17	9	addition	addition	NOUN
eistud-1087	17	10	to	to	ADP
eistud-1087	17	11	european	european	ADJ
eistud-1087	17	12	investment	investment	PROPN
eistud-1087	17	13	bank	bank	PROPN
eistud-1087	17	14	loans	loan	NOUN
eistud-1087	17	15	to	to	PART
eistud-1087	17	16	finance	finance	VERB
eistud-1087	17	17	infrastructure	infrastructure	NOUN
eistud-1087	17	18	investments	investment	NOUN
eistud-1087	17	19	,	,	PUNCT
eistud-1087	17	20	so	so	CCONJ
eistud-1087	17	21	the	the	DET
eistud-1087	17	22	initial	initial	ADJ
eistud-1087	17	23	idea	idea	NOUN
eistud-1087	17	24	was	be	AUX
eistud-1087	17	25	intended	intend	VERB
eistud-1087	17	26	to	to	PART
eistud-1087	17	27	provide	provide	VERB
eistud-1087	17	28	a	a	DET
eistud-1087	17	29	new	new	ADJ
eistud-1087	17	30	debt	debt	NOUN
eistud-1087	17	31	instrument	instrument	NOUN
eistud-1087	17	32	for	for	ADP
eistud-1087	17	33	financing	finance	VERB
eistud-1087	17	34	pan	pan	ADJ
eistud-1087	17	35	-	-	ADJ
eistud-1087	17	36	european	european	ADJ
eistud-1087	17	37	infrastructures	infrastructure	NOUN
eistud-1087	17	38	,	,	PUNCT
eistud-1087	17	39	but	but	CCONJ
eistud-1087	17	40	recently	recently	ADV
eistud-1087	17	41	“	"	PUNCT
eistud-1087	17	42	european	european	ADJ
eistud-1087	17	43	bonds	bond	NOUN
eistud-1087	17	44	”	"	PUNCT
eistud-1087	17	45	idea	idea	NOUN
eistud-1087	17	46	became	become	VERB
eistud-1087	17	47	the	the	DET
eistud-1087	17	48	possible	possible	ADJ
eistud-1087	17	49	measure	measure	NOUN
eistud-1087	17	50	to	to	PART
eistud-1087	17	51	overcome	overcome	VERB
eistud-1087	17	52	present	present	ADJ
eistud-1087	17	53	sovereign	sovereign	ADJ
eistud-1087	17	54	debt	debt	NOUN
eistud-1087	17	55	problems	problem	NOUN
eistud-1087	17	56	.	.	PUNCT
eistud-1087	18	1	in	in	ADP
eistud-1087	18	2	the	the	DET
eistud-1087	18	3	first	first	ADJ
eistud-1087	18	4	part	part	NOUN
eistud-1087	18	5	authors	author	NOUN
eistud-1087	18	6	analyze	analyze	VERB
eistud-1087	18	7	occasions	occasion	NOUN
eistud-1087	18	8	of	of	ADP
eistud-1087	18	9	sovereign	sovereign	ADJ
eistud-1087	18	10	debt	debt	NOUN
eistud-1087	18	11	crisis	crisis	NOUN
eistud-1087	18	12	unbalanced	unbalance	VERB
eistud-1087	18	13	sovereign	sovereign	ADJ
eistud-1087	18	14	budgets	budget	NOUN
eistud-1087	18	15	,	,	PUNCT
eistud-1087	18	16	irrational	irrational	ADJ
eistud-1087	18	17	social	social	ADJ
eistud-1087	18	18	and	and	CCONJ
eistud-1087	18	19	public	public	ADJ
eistud-1087	18	20	spending	spending	NOUN
eistud-1087	18	21	,	,	PUNCT
eistud-1087	18	22	too	too	ADV
eistud-1087	18	23	high	high	ADJ
eistud-1087	18	24	trust	trust	NOUN
eistud-1087	18	25	of	of	ADP
eistud-1087	18	26	creditors	creditor	NOUN
eistud-1087	18	27	,	,	PUNCT
eistud-1087	18	28	etc	etc	X
eistud-1087	18	29	.	.	X
eistud-1087	19	1	the	the	DET
eistud-1087	19	2	second	second	ADJ
eistud-1087	19	3	part	part	NOUN
eistud-1087	19	4	of	of	ADP
eistud-1087	19	5	the	the	DET
eistud-1087	19	6	paper	paper	NOUN
eistud-1087	19	7	is	be	AUX
eistud-1087	19	8	devoted	devote	VERB
eistud-1087	19	9	to	to	ADP
eistud-1087	19	10	theoretical	theoretical	ADJ
eistud-1087	19	11	assumptions	assumption	NOUN
eistud-1087	19	12	of	of	ADP
eistud-1087	19	13	debt	debt	NOUN
eistud-1087	19	14	structures	structure	NOUN
eistud-1087	19	15	development	development	NOUN
eistud-1087	19	16	and	and	CCONJ
eistud-1087	19	17	“	"	PUNCT
eistud-1087	19	18	debt	debt	NOUN
eistud-1087	19	19	dilution	dilution	NOUN
eistud-1087	19	20	”	"	PUNCT
eistud-1087	19	21	phenomenon	phenomenon	NOUN
eistud-1087	19	22	.	.	PUNCT
eistud-1087	20	1	long	long	ADV
eistud-1087	20	2	recognized	recognize	VERB
eistud-1087	20	3	as	as	ADP
eistud-1087	20	4	a	a	DET
eistud-1087	20	5	problem	problem	NOUN
eistud-1087	20	6	in	in	ADP
eistud-1087	20	7	corporate	corporate	ADJ
eistud-1087	20	8	debt	debt	NOUN
eistud-1087	20	9	,	,	PUNCT
eistud-1087	20	10	dilution	dilution	NOUN
eistud-1087	20	11	seems	seem	VERB
eistud-1087	20	12	to	to	PART
eistud-1087	20	13	have	have	AUX
eistud-1087	20	14	recently	recently	ADV
eistud-1087	20	15	become	become	VERB
eistud-1087	20	16	a	a	DET
eistud-1087	20	17	significant	significant	ADJ
eistud-1087	20	18	problem	problem	NOUN
eistud-1087	20	19	in	in	ADP
eistud-1087	20	20	sovereign	sovereign	ADJ
eistud-1087	20	21	debt	debt	NOUN
eistud-1087	20	22	markets	market	NOUN
eistud-1087	20	23	.	.	PUNCT
eistud-1087	21	1	debt	debt	NOUN
eistud-1087	21	2	dilution	dilution	NOUN
eistud-1087	21	3	has	have	VERB
eistud-1087	21	4	undesirable	undesirable	ADJ
eistud-1087	21	5	consequences	consequence	NOUN
eistud-1087	21	6	for	for	ADP
eistud-1087	21	7	both	both	DET
eistud-1087	21	8	debt	debt	NOUN
eistud-1087	21	9	structures	structure	NOUN
eistud-1087	21	10	and	and	CCONJ
eistud-1087	21	11	the	the	DET
eistud-1087	21	12	amounts	amount	NOUN
eistud-1087	21	13	and	and	CCONJ
eistud-1087	21	14	terms	term	NOUN
eistud-1087	21	15	at	at	ADP
eistud-1087	21	16	which	which	PRON
eistud-1087	21	17	sovereigns	sovereign	NOUN
eistud-1087	21	18	borrow	borrow	VERB
eistud-1087	21	19	.	.	PUNCT
eistud-1087	22	1	in	in	ADP
eistud-1087	22	2	the	the	DET
eistud-1087	22	3	third	third	ADJ
eistud-1087	22	4	and	and	CCONJ
eistud-1087	22	5	fourth	fourth	ADJ
eistud-1087	22	6	part	part	NOUN
eistud-1087	22	7	various	various	ADJ
eistud-1087	22	8	aspects	aspect	NOUN
eistud-1087	22	9	of	of	ADP
eistud-1087	22	10	“	"	PUNCT
eistud-1087	22	11	european	european	ADJ
eistud-1087	22	12	bonds	bond	NOUN
eistud-1087	22	13	”	"	PUNCT
eistud-1087	22	14	are	be	AUX
eistud-1087	22	15	being	be	AUX
eistud-1087	22	16	analyzed	analyze	VERB
eistud-1087	22	17	.	.	PUNCT
eistud-1087	23	1	also	also	ADV
eistud-1087	23	2	the	the	DET
eistud-1087	23	3	negative	negative	ADJ
eistud-1087	23	4	and	and	CCONJ
eistud-1087	23	5	positive	positive	ADJ
eistud-1087	23	6	consequences	consequence	NOUN
eistud-1087	23	7	are	be	AUX
eistud-1087	23	8	analyzed	analyze	VERB
eistud-1087	23	9	if	if	SCONJ
eistud-1087	23	10	“	"	PUNCT
eistud-1087	23	11	european	european	ADJ
eistud-1087	23	12	bonds	bond	NOUN
eistud-1087	23	13	”	"	PUNCT
eistud-1087	23	14	proposal	proposal	NOUN
eistud-1087	23	15	would	would	AUX
eistud-1087	23	16	be	be	AUX
eistud-1087	23	17	implemented	implement	VERB
eistud-1087	23	18	.	.	PUNCT
eistud-1087	24	1	also	also	ADV
eistud-1087	24	2	government	government	NOUN
eistud-1087	24	3	deficit	deficit	NOUN
eistud-1087	24	4	,	,	PUNCT
eistud-1087	24	5	government	government	NOUN
eistud-1087	24	6	consolidated	consolidate	VERB
eistud-1087	24	7	gross	gross	ADJ
eistud-1087	24	8	debt	debt	NOUN
eistud-1087	24	9	and	and	CCONJ
eistud-1087	24	10	long	long	ADJ
eistud-1087	24	11	term	term	NOUN
eistud-1087	24	12	government	government	NOUN
eistud-1087	24	13	bond	bond	NOUN
eistud-1087	24	14	yields	yield	NOUN
eistud-1087	24	15	statistics	statistic	NOUN
eistud-1087	24	16	are	be	AUX
eistud-1087	24	17	presented	present	VERB
eistud-1087	24	18	to	to	PART
eistud-1087	24	19	append	append	VERB
eistud-1087	24	20	the	the	DET
eistud-1087	24	21	paper	paper	NOUN
eistud-1087	24	22	findings	finding	NOUN
eistud-1087	24	23	.	.	PUNCT
eistud-1087	25	1	keywords	keyword	NOUN
eistud-1087	25	2	:	:	PUNCT
eistud-1087	25	3	sovereign	sovereign	ADJ
eistud-1087	25	4	debt	debt	NOUN
eistud-1087	25	5	,	,	PUNCT
eistud-1087	25	6	sovereign	sovereign	ADJ
eistud-1087	25	7	debt	debt	NOUN
eistud-1087	25	8	crisis	crisis	NOUN
eistud-1087	25	9	,	,	PUNCT
eistud-1087	25	10	debt	debt	NOUN
eistud-1087	25	11	structuring	structuring	NOUN
eistud-1087	25	12	,	,	PUNCT
eistud-1087	25	13	„	„	PUNCT
eistud-1087	25	14	european	european	ADJ
eistud-1087	25	15	bonds	bond	NOUN
eistud-1087	25	16	“	"	PUNCT
eistud-1087	25	17	.	.	PUNCT
eistud-1087	26	1	introduction	introduction	NOUN
eistud-1087	26	2	this	this	DET
eistud-1087	26	3	paper	paper	NOUN
eistud-1087	26	4	explores	explore	VERB
eistud-1087	26	5	ideas	idea	NOUN
eistud-1087	26	6	for	for	ADP
eistud-1087	26	7	implementation	implementation	NOUN
eistud-1087	26	8	of	of	ADP
eistud-1087	26	9	systematic	systematic	ADJ
eistud-1087	26	10	decisions	decision	NOUN
eistud-1087	26	11	how	how	SCONJ
eistud-1087	26	12	to	to	PART
eistud-1087	26	13	structure	structure	VERB
eistud-1087	26	14	sovereign	sovereign	ADJ
eistud-1087	26	15	debt	debt	NOUN
eistud-1087	26	16	system	system	NOUN
eistud-1087	26	17	in	in	ADP
eistud-1087	26	18	eu	eu	PROPN
eistud-1087	26	19	and	and	CCONJ
eistud-1087	26	20	avoid	avoid	VERB
eistud-1087	26	21	future	future	ADJ
eistud-1087	26	22	sovereign	sovereign	ADJ
eistud-1087	26	23	debt	debt	NOUN
eistud-1087	26	24	crisis	crisis	NOUN
eistud-1087	26	25	.	.	PUNCT
eistud-1087	27	1	the	the	DET
eistud-1087	27	2	two	two	NUM
eistud-1087	27	3	main	main	ADJ
eistud-1087	27	4	difficulties	difficulty	NOUN
eistud-1087	27	5	that	that	PRON
eistud-1087	27	6	arise	arise	VERB
eistud-1087	27	7	in	in	ADP
eistud-1087	27	8	a	a	DET
eistud-1087	27	9	framework	framework	NOUN
eistud-1087	27	10	of	of	ADP
eistud-1087	27	11	“	"	PUNCT
eistud-1087	27	12	european	european	ADJ
eistud-1087	27	13	bonds	bond	NOUN
eistud-1087	27	14	”	"	PUNCT
eistud-1087	27	15	are	be	AUX
eistud-1087	27	16	how	how	SCONJ
eistud-1087	27	17	to	to	PART
eistud-1087	27	18	ensure	ensure	VERB
eistud-1087	27	19	further	further	ADJ
eistud-1087	27	20	sustainability	sustainability	NOUN
eistud-1087	27	21	of	of	ADP
eistud-1087	27	22	eu	eu	PROPN
eistud-1087	27	23	sovereign	sovereign	ADJ
eistud-1087	27	24	debt	debt	NOUN
eistud-1087	27	25	management	management	NOUN
eistud-1087	27	26	(	(	PUNCT
eistud-1087	27	27	especially	especially	ADV
eistud-1087	27	28	for	for	ADP
eistud-1087	27	29	high	high	ADJ
eistud-1087	27	30	-	-	PUNCT
eistud-1087	27	31	debt	debt	NOUN
eistud-1087	27	32	countries	country	NOUN
eistud-1087	27	33	)	)	PUNCT
eistud-1087	27	34	and	and	CCONJ
eistud-1087	27	35	how	how	SCONJ
eistud-1087	27	36	to	to	PART
eistud-1087	27	37	convince	convince	VERB
eistud-1087	27	38	virtuous	virtuous	ADJ
eistud-1087	27	39	countries	country	NOUN
eistud-1087	27	40	to	to	PART
eistud-1087	27	41	support	support	VERB
eistud-1087	27	42	the	the	DET
eistud-1087	27	43	project	project	NOUN
eistud-1087	27	44	and	and	CCONJ
eistud-1087	27	45	make	make	VERB
eistud-1087	27	46	the	the	DET
eistud-1087	27	47	debt	debt	NOUN
eistud-1087	27	48	service	service	NOUN
eistud-1087	27	49	costs	cost	NOUN
eistud-1087	27	50	lesser	less	ADJ
eistud-1087	27	51	.	.	PUNCT
eistud-1087	28	1	this	this	DET
eistud-1087	28	2	paper	paper	NOUN
eistud-1087	28	3	suggests	suggest	VERB
eistud-1087	28	4	an	an	DET
eistud-1087	28	5	approach	approach	NOUN
eistud-1087	28	6	to	to	PART
eistud-1087	28	7	deal	deal	VERB
eistud-1087	28	8	with	with	ADP
eistud-1087	28	9	those	those	DET
eistud-1087	28	10	issues	issue	NOUN
eistud-1087	28	11	,	,	PUNCT
eistud-1087	28	12	although	although	SCONJ
eistud-1087	28	13	this	this	DET
eistud-1087	28	14	area	area	NOUN
eistud-1087	28	15	clearly	clearly	ADV
eistud-1087	28	16	requires	require	VERB
eistud-1087	28	17	further	further	ADJ
eistud-1087	28	18	work	work	NOUN
eistud-1087	28	19	.	.	PUNCT
eistud-1087	29	1	while	while	SCONJ
eistud-1087	29	2	this	this	DET
eistud-1087	29	3	paper	paper	NOUN
eistud-1087	29	4	concludes	conclude	VERB
eistud-1087	29	5	that	that	SCONJ
eistud-1087	29	6	“	"	PUNCT
eistud-1087	29	7	european	european	ADJ
eistud-1087	29	8	bonds	bond	NOUN
eistud-1087	29	9	”	"	PUNCT
eistud-1087	29	10	is	be	AUX
eistud-1087	29	11	a	a	DET
eistud-1087	29	12	novel	novel	ADJ
eistud-1087	29	13	approach	approach	NOUN
eistud-1087	29	14	to	to	PART
eistud-1087	29	15	improve	improve	VERB
eistud-1087	29	16	sovereign	sovereign	ADJ
eistud-1087	29	17	debt	debt	NOUN
eistud-1087	29	18	management	management	NOUN
eistud-1087	29	19	that	that	PRON
eistud-1087	29	20	is	be	AUX
eistud-1087	29	21	worthy	worthy	ADJ
eistud-1087	29	22	of	of	ADP
eistud-1087	29	23	further	further	ADJ
eistud-1087	29	24	research	research	NOUN
eistud-1087	29	25	,	,	PUNCT
eistud-1087	29	26	it	it	PRON
eistud-1087	29	27	is	be	AUX
eistud-1087	29	28	only	only	ADV
eistud-1087	29	29	a	a	DET
eistud-1087	29	30	first	first	ADJ
eistud-1087	29	31	pass	pass	NOUN
eistud-1087	29	32	at	at	ADP
eistud-1087	29	33	the	the	DET
eistud-1087	29	34	issue	issue	NOUN
eistud-1087	29	35	,	,	PUNCT
eistud-1087	29	36	and	and	CCONJ
eistud-1087	29	37	further	further	ADJ
eistud-1087	29	38	research	research	NOUN
eistud-1087	29	39	is	be	AUX
eistud-1087	29	40	needed	need	VERB
eistud-1087	29	41	before	before	ADP
eistud-1087	29	42	arriving	arrive	VERB
eistud-1087	29	43	at	at	ADP
eistud-1087	29	44	a	a	DET
eistud-1087	29	45	definite	definite	ADJ
eistud-1087	29	46	conclusion	conclusion	NOUN
eistud-1087	29	47	.	.	PUNCT
eistud-1087	30	1	in	in	ADP
eistud-1087	30	2	fact	fact	NOUN
eistud-1087	30	3	,	,	PUNCT
eistud-1087	30	4	while	while	SCONJ
eistud-1087	30	5	“	"	PUNCT
eistud-1087	30	6	european	european	ADJ
eistud-1087	30	7	bonds	bond	NOUN
eistud-1087	30	8	”	"	PUNCT
eistud-1087	30	9	could	could	AUX
eistud-1087	30	10	be	be	AUX
eistud-1087	30	11	more	more	ADV
eistud-1087	30	12	beneficial	beneficial	ADJ
eistud-1087	30	13	for	for	ADP
eistud-1087	30	14	countries	country	NOUN
eistud-1087	30	15	with	with	ADP
eistud-1087	30	16	high	high	ADJ
eistud-1087	30	17	debt	debt	NOUN
eistud-1087	30	18	levels	level	NOUN
eistud-1087	30	19	,	,	PUNCT
eistud-1087	30	20	it	it	PRON
eistud-1087	30	21	may	may	AUX
eistud-1087	30	22	make	make	VERB
eistud-1087	30	23	“	"	PUNCT
eistud-1087	30	24	european	european	ADJ
eistud-1087	30	25	bonds	bond	NOUN
eistud-1087	30	26	”	"	PUNCT
eistud-1087	30	27	ideas	idea	NOUN
eistud-1087	30	28	contradictory	contradictory	ADJ
eistud-1087	30	29	to	to	ADP
eistud-1087	30	30	well	well	ADV
eistud-1087	30	31	debt	debt	NOUN
eistud-1087	30	32	managed	manage	VERB
eistud-1087	30	33	countries	country	NOUN
eistud-1087	30	34	.	.	PUNCT
eistud-1087	31	1	in	in	ADP
eistud-1087	31	2	any	any	DET
eistud-1087	31	3	case	case	NOUN
eistud-1087	31	4	it	it	PRON
eistud-1087	31	5	will	will	AUX
eistud-1087	31	6	help	help	VERB
eistud-1087	31	7	to	to	PART
eistud-1087	31	8	prevent	prevent	VERB
eistud-1087	31	9	future	future	NOUN
eistud-1087	31	10	over	over	ADP
eistud-1087	31	11	borrowing	borrowing	NOUN
eistud-1087	31	12	and	and	CCONJ
eistud-1087	31	13	sovereign	sovereign	ADJ
eistud-1087	31	14	debt	debt	NOUN
eistud-1087	31	15	crisis	crisis	NOUN
eistud-1087	31	16	.	.	PUNCT
eistud-1087	32	1	moreover	moreover	ADV
eistud-1087	32	2	,	,	PUNCT
eistud-1087	32	3	an	an	DET
eistud-1087	32	4	overall	overall	ADJ
eistud-1087	32	5	judgment	judgment	NOUN
eistud-1087	32	6	of	of	ADP
eistud-1087	32	7	“	"	PUNCT
eistud-1087	32	8	european	european	ADJ
eistud-1087	32	9	bonds	bond	NOUN
eistud-1087	32	10	”	"	PUNCT
eistud-1087	32	11	would	would	AUX
eistud-1087	32	12	depend	depend	VERB
eistud-1087	32	13	on	on	ADP
eistud-1087	32	14	the	the	DET
eistud-1087	32	15	further	further	ADJ
eistud-1087	32	16	development	development	NOUN
eistud-1087	32	17	of	of	ADP
eistud-1087	32	18	sovereign	sovereign	ADJ
eistud-1087	32	19	debt	debt	NOUN
eistud-1087	32	20	management	management	NOUN
eistud-1087	32	21	decisions	decision	NOUN
eistud-1087	32	22	of	of	ADP
eistud-1087	32	23	eu	eu	PROPN
eistud-1087	32	24	institutions	institution	NOUN
eistud-1087	32	25	.	.	PUNCT
eistud-1087	33	1	the	the	DET
eistud-1087	33	2	pending	pende	VERB
eistud-1087	33	3	scientific	scientific	ADJ
eistud-1087	33	4	problem	problem	NOUN
eistud-1087	33	5	–	–	PUNCT
eistud-1087	33	6	eu	eu	PROPN
eistud-1087	33	7	countries	country	NOUN
eistud-1087	33	8	sovereign	sovereign	ADJ
eistud-1087	33	9	debt	debt	NOUN
eistud-1087	33	10	is	be	AUX
eistud-1087	33	11	getting	get	VERB
eistud-1087	33	12	higher	high	ADJ
eistud-1087	33	13	,	,	PUNCT
eistud-1087	33	14	so	so	ADV
eistud-1087	33	15	complex	complex	ADJ
eistud-1087	33	16	solutions	solution	NOUN
eistud-1087	33	17	are	be	AUX
eistud-1087	33	18	needed	need	VERB
eistud-1087	33	19	to	to	PART
eistud-1087	33	20	overcome	overcome	VERB
eistud-1087	33	21	present	present	ADJ
eistud-1087	33	22	sovereign	sovereign	ADJ
eistud-1087	33	23	debt	debt	NOUN
eistud-1087	33	24	crisis	crisis	NOUN
eistud-1087	33	25	and	and	CCONJ
eistud-1087	33	26	restore	restore	VERB
eistud-1087	33	27	the	the	DET
eistud-1087	33	28	trust	trust	NOUN
eistud-1087	33	29	of	of	ADP
eistud-1087	33	30	euro	euro	NOUN
eistud-1087	33	31	as	as	ADP
eistud-1087	33	32	a	a	DET
eistud-1087	33	33	currency	currency	NOUN
eistud-1087	33	34	and	and	CCONJ
eistud-1087	33	35	of	of	ADP
eistud-1087	33	36	all	all	DET
eistud-1087	33	37	european	european	PROPN
eistud-1087	33	38	union	union	PROPN
eistud-1087	33	39	.	.	PUNCT
eistud-1087	34	1	the	the	DET
eistud-1087	34	2	aim	aim	NOUN
eistud-1087	34	3	of	of	ADP
eistud-1087	34	4	the	the	DET
eistud-1087	34	5	paper	paper	NOUN
eistud-1087	34	6	–	–	PUNCT
eistud-1087	34	7	to	to	PART
eistud-1087	34	8	analyze	analyze	VERB
eistud-1087	34	9	the	the	DET
eistud-1087	34	10	present	present	ADJ
eistud-1087	34	11	eu	eu	PROPN
eistud-1087	34	12	sovereign	sovereign	ADJ
eistud-1087	34	13	debt	debt	NOUN
eistud-1087	34	14	crisis	crisis	NOUN
eistud-1087	34	15	appearance	appearance	NOUN
eistud-1087	34	16	reasons	reason	NOUN
eistud-1087	34	17	and	and	CCONJ
eistud-1087	34	18	assess	assess	VERB
eistud-1087	34	19	“	"	PUNCT
eistud-1087	34	20	european	european	ADJ
eistud-1087	34	21	bonds	bond	NOUN
eistud-1087	34	22	”	"	PUNCT
eistud-1087	34	23	as	as	ADP
eistud-1087	34	24	possible	possible	ADJ
eistud-1087	34	25	measure	measure	NOUN
eistud-1087	34	26	to	to	PART
eistud-1087	34	27	solve	solve	VERB
eistud-1087	34	28	eu	eu	PROPN
eistud-1087	34	29	sovereign	sovereign	ADJ
eistud-1087	34	30	debt	debt	NOUN
eistud-1087	34	31	control	control	NOUN
eistud-1087	34	32	problem	problem	NOUN
eistud-1087	34	33	.	.	PUNCT
eistud-1087	35	1	tasks	task	NOUN
eistud-1087	35	2	of	of	ADP
eistud-1087	35	3	the	the	DET
eistud-1087	35	4	paper	paper	NOUN
eistud-1087	35	5	:	:	PUNCT
eistud-1087	35	6	•	•	ADP
eistud-1087	35	7	to	to	PART
eistud-1087	35	8	present	present	VERB
eistud-1087	35	9	sovereign	sovereign	ADJ
eistud-1087	35	10	debt	debt	NOUN
eistud-1087	35	11	crisis	crisis	NOUN
eistud-1087	35	12	appearance	appearance	NOUN
eistud-1087	35	13	reasons	reason	NOUN
eistud-1087	35	14	•	•	NOUN
eistud-1087	35	15	to	to	PART
eistud-1087	35	16	highlight	highlight	VERB
eistud-1087	35	17	sovereign	sovereign	ADJ
eistud-1087	35	18	debt	debt	NOUN
eistud-1087	35	19	structure	structure	NOUN
eistud-1087	35	20	theoretical	theoretical	ADJ
eistud-1087	35	21	assumption	assumption	NOUN
eistud-1087	35	22	•	•	ADP
eistud-1087	35	23	to	to	PART
eistud-1087	35	24	consider	consider	VERB
eistud-1087	35	25	the	the	DET
eistud-1087	35	26	“	"	PUNCT
eistud-1087	35	27	european	european	ADJ
eistud-1087	35	28	bonds	bond	NOUN
eistud-1087	35	29	”	"	PUNCT
eistud-1087	35	30	solution	solution	NOUN
eistud-1087	35	31	as	as	ADP
eistud-1087	35	32	a	a	DET
eistud-1087	35	33	tool	tool	NOUN
eistud-1087	35	34	to	to	PART
eistud-1087	35	35	solve	solve	VERB
eistud-1087	35	36	the	the	DET
eistud-1087	35	37	sovereign	sovereign	ADJ
eistud-1087	35	38	debt	debt	NOUN
eistud-1087	35	39	control	control	NOUN
eistud-1087	35	40	in	in	ADP
eistud-1087	35	41	eu	eu	PROPN
eistud-1087	35	42	.	.	PROPN
eistud-1087	35	43	•	•	NUM
eistud-1087	35	44	to	to	PART
eistud-1087	35	45	identify	identify	VERB
eistud-1087	35	46	positive	positive	ADJ
eistud-1087	35	47	and	and	CCONJ
eistud-1087	35	48	negative	negative	ADJ
eistud-1087	35	49	“	"	PUNCT
eistud-1087	35	50	european	european	ADJ
eistud-1087	35	51	bonds	bond	NOUN
eistud-1087	35	52	”	"	PUNCT
eistud-1087	35	53	features	feature	VERB
eistud-1087	35	54	in	in	ADP
eistud-1087	35	55	the	the	DET
eistud-1087	35	56	context	context	NOUN
eistud-1087	35	57	of	of	ADP
eistud-1087	35	58	eu	eu	PROPN
eistud-1087	35	59	sovereign	sovereign	ADJ
eistud-1087	35	60	debt	debt	NOUN
eistud-1087	35	61	control	control	NOUN
eistud-1087	35	62	problem	problem	NOUN
eistud-1087	35	63	.	.	PUNCT
eistud-1087	36	1	the	the	DET
eistud-1087	36	2	object	object	NOUN
eistud-1087	36	3	of	of	ADP
eistud-1087	36	4	the	the	DET
eistud-1087	36	5	paper	paper	NOUN
eistud-1087	36	6	–	–	PUNCT
eistud-1087	36	7	eu	eu	PROPN
eistud-1087	36	8	sovereign	sovereign	ADJ
eistud-1087	36	9	debt	debt	NOUN
eistud-1087	36	10	control	control	NOUN
eistud-1087	36	11	.	.	PUNCT
eistud-1087	37	1	issn	issn	PROPN
eistud-1087	37	2	1822–8402	1822–8402	NUM
eistud-1087	37	3	european	european	ADJ
eistud-1087	37	4	integration	integration	NOUN
eistud-1087	37	5	studies	study	NOUN
eistud-1087	37	6	.	.	PUNCT
eistud-1087	38	1	2011	2011	NUM
eistud-1087	38	2	.	.	PUNCT
eistud-1087	39	1	no	no	DET
eistud-1087	39	2	5	5	NUM
eistud-1087	39	3	126	126	NUM
eistud-1087	39	4	research	research	NOUN
eistud-1087	39	5	methods	method	NOUN
eistud-1087	39	6	applied	apply	VERB
eistud-1087	39	7	–	–	PUNCT
eistud-1087	39	8	analysis	analysis	NOUN
eistud-1087	39	9	of	of	ADP
eistud-1087	39	10	scientifi	scientifi	NOUN
eistud-1087	39	11	c	c	PROPN
eistud-1087	39	12	papers	paper	NOUN
eistud-1087	39	13	and	and	CCONJ
eistud-1087	39	14	statistical	statistical	ADJ
eistud-1087	39	15	data	datum	NOUN
eistud-1087	39	16	.	.	PUNCT
eistud-1087	40	1	sovereign	sovereign	ADJ
eistud-1087	40	2	debt	debt	NOUN
eistud-1087	40	3	crisis	crisis	NOUN
eistud-1087	40	4	:	:	PUNCT
eistud-1087	40	5	fundamental	fundamental	ADJ
eistud-1087	40	6	features	feature	VERB
eistud-1087	40	7	history	history	NOUN
eistud-1087	40	8	shows	show	VERB
eistud-1087	40	9	that	that	SCONJ
eistud-1087	40	10	fi	fi	NOUN
eistud-1087	40	11	nancial	nancial	ADJ
eistud-1087	40	12	crises	crisis	NOUN
eistud-1087	40	13	are	be	AUX
eistud-1087	40	14	generally	generally	ADV
eistud-1087	40	15	followed	follow	VERB
eistud-1087	40	16	by	by	ADP
eistud-1087	40	17	sovereign	sovereign	ADJ
eistud-1087	40	18	debt	debt	NOUN
eistud-1087	40	19	crises	crisis	NOUN
eistud-1087	40	20	.	.	PUNCT
eistud-1087	41	1	in	in	ADP
eistud-1087	41	2	some	some	DET
eistud-1087	41	3	cases	case	NOUN
eistud-1087	41	4	sovereign	sovereign	ADJ
eistud-1087	41	5	debt	debt	NOUN
eistud-1087	41	6	crisis	crisis	NOUN
eistud-1087	41	7	become	become	VERB
eistud-1087	41	8	the	the	DET
eistud-1087	41	9	reason	reason	NOUN
eistud-1087	41	10	of	of	ADP
eistud-1087	41	11	currency	currency	NOUN
eistud-1087	41	12	crisis	crisis	NOUN
eistud-1087	41	13	.	.	PUNCT
eistud-1087	42	1	the	the	DET
eistud-1087	42	2	latter	latter	ADJ
eistud-1087	42	3	stage	stage	NOUN
eistud-1087	42	4	is	be	AUX
eistud-1087	42	5	not	not	PART
eistud-1087	42	6	the	the	DET
eistud-1087	42	7	case	case	NOUN
eistud-1087	42	8	for	for	ADP
eistud-1087	42	9	eu	eu	PROPN
eistud-1087	42	10	,	,	PUNCT
eistud-1087	42	11	because	because	SCONJ
eistud-1087	42	12	of	of	ADP
eistud-1087	42	13	existence	existence	NOUN
eistud-1087	42	14	of	of	ADP
eistud-1087	42	15	euro	euro	NOUN
eistud-1087	42	16	zone	zone	NOUN
eistud-1087	42	17	and	and	CCONJ
eistud-1087	42	18	currencies	currency	NOUN
eistud-1087	42	19	pegging	peg	VERB
eistud-1087	42	20	mechanisms	mechanism	NOUN
eistud-1087	42	21	.	.	PUNCT
eistud-1087	43	1	from	from	ADP
eistud-1087	43	2	the	the	DET
eistud-1087	43	3	sovereign	sovereign	ADJ
eistud-1087	43	4	debt	debt	NOUN
eistud-1087	43	5	crisis	crisis	NOUN
eistud-1087	43	6	point	point	NOUN
eistud-1087	43	7	of	of	ADP
eistud-1087	43	8	view	view	NOUN
eistud-1087	43	9	some	some	DET
eistud-1087	43	10	four	four	NUM
eistud-1087	43	11	stages	stage	NOUN
eistud-1087	43	12	of	of	ADP
eistud-1087	43	13	typical	typical	ADJ
eistud-1087	43	14	debt	debt	NOUN
eistud-1087	43	15	crisis	crisis	NOUN
eistud-1087	43	16	appearance	appearance	NOUN
eistud-1087	43	17	could	could	AUX
eistud-1087	43	18	be	be	AUX
eistud-1087	43	19	indentifi	indentifi	NOUN
eistud-1087	43	20	ed	ed	NOUN
eistud-1087	43	21	:	:	PUNCT
eistud-1087	43	22	1	1	X
eistud-1087	43	23	.	.	X
eistud-1087	43	24	growing	grow	VERB
eistud-1087	43	25	defi	defi	NOUN
eistud-1087	43	26	cit	cit	PROPN
eistud-1087	43	27	2	2	NUM
eistud-1087	43	28	.	.	PUNCT
eistud-1087	43	29	growing	grow	VERB
eistud-1087	43	30	debt	debt	NOUN
eistud-1087	43	31	3	3	NUM
eistud-1087	43	32	.	.	PUNCT
eistud-1087	44	1	downgrades	downgrade	NOUN
eistud-1087	44	2	of	of	ADP
eistud-1087	44	3	fi	fi	NOUN
eistud-1087	44	4	nancial	nancial	ADJ
eistud-1087	44	5	ratings	rating	NOUN
eistud-1087	44	6	4	4	NUM
eistud-1087	44	7	.	.	PUNCT
eistud-1087	44	8	default	default	NOUN
eistud-1087	44	9	.	.	PUNCT
eistud-1087	45	1	the	the	DET
eistud-1087	45	2	fi	fi	NOUN
eistud-1087	45	3	rst	rst	ADJ
eistud-1087	45	4	stage	stage	NOUN
eistud-1087	45	5	of	of	ADP
eistud-1087	45	6	sovereign	sovereign	ADJ
eistud-1087	45	7	debt	debt	NOUN
eistud-1087	45	8	appearance	appearance	NOUN
eistud-1087	45	9	is	be	AUX
eistud-1087	45	10	defi	defi	PROPN
eistud-1087	45	11	cit	cit	PROPN
eistud-1087	45	12	growth	growth	NOUN
eistud-1087	45	13	and	and	CCONJ
eistud-1087	45	14	it	it	PRON
eistud-1087	45	15	is	be	AUX
eistud-1087	45	16	the	the	DET
eistud-1087	45	17	outcome	outcome	NOUN
eistud-1087	45	18	from	from	ADP
eistud-1087	45	19	the	the	DET
eistud-1087	45	20	fi	fi	NOUN
eistud-1087	45	21	nancial	nancial	ADJ
eistud-1087	45	22	crisis	crisis	NOUN
eistud-1087	45	23	.	.	PUNCT
eistud-1087	46	1	during	during	ADP
eistud-1087	46	2	the	the	DET
eistud-1087	46	3	fi	fi	ADJ
eistud-1087	46	4	nancial	nancial	ADJ
eistud-1087	46	5	crisis	crisis	NOUN
eistud-1087	46	6	governments	government	NOUN
eistud-1087	46	7	spending	spend	VERB
eistud-1087	46	8	increases	increase	NOUN
eistud-1087	46	9	dramatically	dramatically	ADV
eistud-1087	46	10	in	in	ADP
eistud-1087	46	11	attempts	attempt	NOUN
eistud-1087	46	12	to	to	PART
eistud-1087	46	13	stabilize	stabilize	VERB
eistud-1087	46	14	the	the	DET
eistud-1087	46	15	fi	fi	NOUN
eistud-1087	46	16	nancial	nancial	ADJ
eistud-1087	46	17	system	system	NOUN
eistud-1087	46	18	and	and	CCONJ
eistud-1087	46	19	stimulate	stimulate	VERB
eistud-1087	46	20	economic	economic	ADJ
eistud-1087	46	21	activity	activity	NOUN
eistud-1087	46	22	.	.	PUNCT
eistud-1087	47	1	the	the	DET
eistud-1087	47	2	cyclical	cyclical	ADJ
eistud-1087	47	3	income	income	NOUN
eistud-1087	47	4	from	from	ADP
eistud-1087	47	5	taxes	taxis	NOUN
eistud-1087	47	6	goes	go	VERB
eistud-1087	47	7	down	down	ADV
eistud-1087	47	8	,	,	PUNCT
eistud-1087	47	9	but	but	CCONJ
eistud-1087	47	10	the	the	DET
eistud-1087	47	11	fi	fi	NOUN
eistud-1087	47	12	nancial	nancial	ADJ
eistud-1087	47	13	commitment	commitment	NOUN
eistud-1087	47	14	of	of	ADP
eistud-1087	47	15	governments	government	NOUN
eistud-1087	47	16	stay	stay	VERB
eistud-1087	47	17	mostly	mostly	ADV
eistud-1087	47	18	unchanged	unchanged	ADJ
eistud-1087	47	19	.	.	PUNCT
eistud-1087	48	1	social	social	ADJ
eistud-1087	48	2	and	and	CCONJ
eistud-1087	48	3	health	health	NOUN
eistud-1087	48	4	affairs	affair	NOUN
eistud-1087	48	5	,	,	PUNCT
eistud-1087	48	6	huge	huge	ADJ
eistud-1087	48	7	and	and	CCONJ
eistud-1087	48	8	important	important	ADJ
eistud-1087	48	9	state	state	NOUN
eistud-1087	48	10	infrastructure	infrastructure	NOUN
eistud-1087	48	11	projects	project	NOUN
eistud-1087	48	12	usually	usually	ADV
eistud-1087	48	13	can	can	AUX
eistud-1087	48	14	not	not	PART
eistud-1087	48	15	be	be	AUX
eistud-1087	48	16	stopped	stop	VERB
eistud-1087	48	17	on	on	ADP
eistud-1087	48	18	the	the	DET
eistud-1087	48	19	spot	spot	NOUN
eistud-1087	48	20	.	.	PUNCT
eistud-1087	49	1	therefore	therefore	ADV
eistud-1087	49	2	fi	fi	NOUN
eistud-1087	49	3	scal	scal	ADJ
eistud-1087	49	4	surpluses	surplus	NOUN
eistud-1087	49	5	become	become	VERB
eistud-1087	49	6	defi	defi	NOUN
eistud-1087	49	7	cits	cit	NOUN
eistud-1087	49	8	.	.	PUNCT
eistud-1087	50	1	if	if	SCONJ
eistud-1087	50	2	fi	fi	ADJ
eistud-1087	50	3	nancial	nancial	ADJ
eistud-1087	50	4	crisis	crisis	NOUN
eistud-1087	50	5	damage	damage	NOUN
eistud-1087	50	6	banking	banking	NOUN
eistud-1087	50	7	system	system	NOUN
eistud-1087	50	8	and	and	CCONJ
eistud-1087	50	9	government	government	NOUN
eistud-1087	50	10	must	must	AUX
eistud-1087	50	11	borrow	borrow	VERB
eistud-1087	50	12	huge	huge	ADJ
eistud-1087	50	13	sums	sum	NOUN
eistud-1087	50	14	from	from	ADP
eistud-1087	50	15	the	the	DET
eistud-1087	50	16	market	market	NOUN
eistud-1087	50	17	,	,	PUNCT
eistud-1087	50	18	than	than	SCONJ
eistud-1087	50	19	it	it	PRON
eistud-1087	50	20	makes	make	VERB
eistud-1087	50	21	situation	situation	NOUN
eistud-1087	50	22	more	more	ADJ
eistud-1087	50	23	diffi	diffi	ADJ
eistud-1087	50	24	cult	cult	NOUN
eistud-1087	50	25	.	.	PUNCT
eistud-1087	51	1	thereby	thereby	ADV
eistud-1087	51	2	economies	economie	VERB
eistud-1087	51	3	with	with	ADP
eistud-1087	51	4	existing	exist	VERB
eistud-1087	51	5	defi	defi	NOUN
eistud-1087	51	6	cits	cit	NOUN
eistud-1087	51	7	are	be	AUX
eistud-1087	51	8	in	in	ADP
eistud-1087	51	9	danger	danger	NOUN
eistud-1087	51	10	to	to	PART
eistud-1087	51	11	go	go	VERB
eistud-1087	51	12	to	to	ADP
eistud-1087	51	13	default	default	NOUN
eistud-1087	51	14	due	due	ADJ
eistud-1087	51	15	to	to	ADP
eistud-1087	51	16	uncontrolled	uncontrolled	ADJ
eistud-1087	51	17	borrowing	borrowing	NOUN
eistud-1087	51	18	paces	pace	NOUN
eistud-1087	51	19	.	.	PUNCT
eistud-1087	52	1	all	all	DET
eistud-1087	52	2	the	the	DET
eistud-1087	52	3	members	member	NOUN
eistud-1087	52	4	of	of	ADP
eistud-1087	52	5	the	the	DET
eistud-1087	52	6	european	european	PROPN
eistud-1087	52	7	monetary	monetary	PROPN
eistud-1087	52	8	union	union	PROPN
eistud-1087	52	9	have	have	AUX
eistud-1087	52	10	violated	violate	VERB
eistud-1087	52	11	treaty	treaty	NOUN
eistud-1087	52	12	limits	limit	NOUN
eistud-1087	52	13	on	on	ADP
eistud-1087	52	14	allowable	allowable	ADJ
eistud-1087	52	15	budget	budget	NOUN
eistud-1087	52	16	defi	defi	NOUN
eistud-1087	52	17	cits	cit	NOUN
eistud-1087	52	18	–	–	PUNCT
eistud-1087	52	19	some	some	PRON
eistud-1087	52	20	of	of	ADP
eistud-1087	52	21	the	the	DET
eistud-1087	52	22	members	member	NOUN
eistud-1087	52	23	have	have	VERB
eistud-1087	52	24	four	four	NUM
eistud-1087	52	25	times	time	NOUN
eistud-1087	52	26	larger	large	ADJ
eistud-1087	52	27	defi	defi	PROPN
eistud-1087	52	28	cit	cit	PROPN
eistud-1087	52	29	.	.	PUNCT
eistud-1087	53	1	even	even	ADV
eistud-1087	53	2	leading	lead	VERB
eistud-1087	53	3	economies	economy	NOUN
eistud-1087	53	4	of	of	ADP
eistud-1087	53	5	the	the	DET
eistud-1087	53	6	world	world	NOUN
eistud-1087	53	7	have	have	AUX
eistud-1087	53	8	all	all	PRON
eistud-1087	53	9	seen	see	VERB
eistud-1087	53	10	their	their	PRON
eistud-1087	53	11	defi	defi	NOUN
eistud-1087	53	12	cits	cit	NOUN
eistud-1087	53	13	become	become	VERB
eistud-1087	53	14	higher	high	ADJ
eistud-1087	53	15	,	,	PUNCT
eistud-1087	53	16	some	some	PRON
eistud-1087	53	17	of	of	ADP
eistud-1087	53	18	them	they	PRON
eistud-1087	53	19	to	to	PART
eistud-1087	53	20	record	record	NOUN
eistud-1087	53	21	level	level	NOUN
eistud-1087	53	22	(	(	PUNCT
eistud-1087	53	23	fig	fig	NOUN
eistud-1087	53	24	.	.	NOUN
eistud-1087	53	25	1	1	NUM
eistud-1087	53	26	)	)	PUNCT
eistud-1087	53	27	.	.	PUNCT
eistud-1087	54	1	fig	fig	NOUN
eistud-1087	54	2	.	.	PUNCT
eistud-1087	55	1	1	1	X
eistud-1087	55	2	.	.	X
eistud-1087	55	3	general	general	ADJ
eistud-1087	55	4	government	government	NOUN
eistud-1087	55	5	defi	defi	NOUN
eistud-1087	55	6	cits	cit	NOUN
eistud-1087	55	7	and	and	CCONJ
eistud-1087	55	8	surpluses	surplus	NOUN
eistud-1087	55	9	(	(	PUNCT
eistud-1087	55	10	eurostat	eurostat	PROPN
eistud-1087	55	11	,	,	PUNCT
eistud-1087	55	12	2011	2011	NUM
eistud-1087	55	13	)	)	PUNCT
eistud-1087	55	14	the	the	DET
eistud-1087	55	15	next	next	ADJ
eistud-1087	55	16	sovereign	sovereign	ADJ
eistud-1087	55	17	debt	debt	NOUN
eistud-1087	55	18	appearance	appearance	NOUN
eistud-1087	55	19	stage	stage	NOUN
eistud-1087	55	20	is	be	AUX
eistud-1087	55	21	growing	grow	VERB
eistud-1087	55	22	debt	debt	NOUN
eistud-1087	55	23	.	.	PUNCT
eistud-1087	56	1	almost	almost	ADV
eistud-1087	56	2	in	in	ADP
eistud-1087	56	3	every	every	DET
eistud-1087	56	4	fi	fi	NOUN
eistud-1087	56	5	nancial	nancial	ADJ
eistud-1087	56	6	crisis	crisis	NOUN
eistud-1087	56	7	economies	economy	NOUN
eistud-1087	56	8	back	back	ADV
eistud-1087	56	9	to	to	ADP
eistud-1087	56	10	the	the	DET
eistud-1087	56	11	recovery	recovery	NOUN
eistud-1087	56	12	after	after	ADP
eistud-1087	56	13	a	a	DET
eistud-1087	56	14	period	period	NOUN
eistud-1087	56	15	of	of	ADP
eistud-1087	56	16	3	3	NUM
eistud-1087	56	17	or	or	CCONJ
eistud-1087	56	18	4	4	NUM
eistud-1087	56	19	years	year	NOUN
eistud-1087	56	20	.	.	PUNCT
eistud-1087	57	1	it	it	PRON
eistud-1087	57	2	means	mean	VERB
eistud-1087	57	3	that	that	SCONJ
eistud-1087	57	4	government	government	NOUN
eistud-1087	57	5	’s	’s	PART
eistud-1087	57	6	budget	budget	NOUN
eistud-1087	57	7	starts	start	VERB
eistud-1087	57	8	to	to	PART
eistud-1087	57	9	collect	collect	VERB
eistud-1087	57	10	more	more	ADJ
eistud-1087	57	11	taxes	taxis	NOUN
eistud-1087	57	12	after	after	ADP
eistud-1087	57	13	business	business	NOUN
eistud-1087	57	14	and	and	CCONJ
eistud-1087	57	15	private	private	ADJ
eistud-1087	57	16	individuals	individual	NOUN
eistud-1087	57	17	’	'	PUNCT
eistud-1087	57	18	starts	start	VERB
eistud-1087	57	19	to	to	PART
eistud-1087	57	20	receive	receive	VERB
eistud-1087	57	21	more	more	ADJ
eistud-1087	57	22	profi	profi	PROPN
eistud-1087	57	23	t	t	PROPN
eistud-1087	57	24	and	and	CCONJ
eistud-1087	57	25	income	income	NOUN
eistud-1087	57	26	.	.	PUNCT
eistud-1087	58	1	therefore	therefore	ADV
eistud-1087	58	2	economies	economy	NOUN
eistud-1087	58	3	are	be	AUX
eistud-1087	58	4	shrinking	shrink	VERB
eistud-1087	58	5	or	or	CCONJ
eistud-1087	58	6	growing	grow	VERB
eistud-1087	58	7	rate	rate	NOUN
eistud-1087	58	8	is	be	AUX
eistud-1087	58	9	very	very	ADV
eistud-1087	58	10	slight	slight	ADJ
eistud-1087	58	11	.	.	PUNCT
eistud-1087	59	1	due	due	ADP
eistud-1087	59	2	to	to	ADP
eistud-1087	59	3	these	these	DET
eistud-1087	59	4	processes	process	NOUN
eistud-1087	59	5	it	it	PRON
eistud-1087	59	6	is	be	AUX
eistud-1087	59	7	really	really	ADV
eistud-1087	59	8	big	big	ADJ
eistud-1087	59	9	challenge	challenge	NOUN
eistud-1087	59	10	to	to	PART
eistud-1087	59	11	bring	bring	VERB
eistud-1087	59	12	these	these	DET
eistud-1087	59	13	defi	defi	NOUN
eistud-1087	59	14	cits	cit	NOUN
eistud-1087	59	15	back	back	ADV
eistud-1087	59	16	to	to	ADP
eistud-1087	59	17	satisfactory	satisfactory	ADJ
eistud-1087	59	18	level	level	NOUN
eistud-1087	59	19	.	.	PUNCT
eistud-1087	60	1	governments	government	NOUN
eistud-1087	60	2	then	then	ADV
eistud-1087	60	3	have	have	VERB
eistud-1087	60	4	to	to	PART
eistud-1087	60	5	go	go	VERB
eistud-1087	60	6	to	to	ADP
eistud-1087	60	7	the	the	DET
eistud-1087	60	8	market	market	NOUN
eistud-1087	60	9	and	and	CCONJ
eistud-1087	60	10	ask	ask	VERB
eistud-1087	60	11	for	for	ADP
eistud-1087	60	12	additional	additional	ADJ
eistud-1087	60	13	debt	debt	NOUN
eistud-1087	60	14	to	to	PART
eistud-1087	60	15	cover	cover	VERB
eistud-1087	60	16	its	its	PRON
eistud-1087	60	17	defi	defi	NOUN
eistud-1087	60	18	cit	cit	PROPN
eistud-1087	60	19	.	.	PUNCT
eistud-1087	61	1	this	this	DET
eistud-1087	61	2	stage	stage	NOUN
eistud-1087	61	3	turns	turn	VERB
eistud-1087	61	4	into	into	ADP
eistud-1087	61	5	growing	grow	VERB
eistud-1087	61	6	debt	debt	NOUN
eistud-1087	61	7	loads	load	NOUN
eistud-1087	61	8	(	(	PUNCT
eistud-1087	61	9	fig	fig	NOUN
eistud-1087	61	10	.	.	PUNCT
eistud-1087	62	1	2	2	NUM
eistud-1087	62	2	)	)	PUNCT
eistud-1087	62	3	.	.	PUNCT
eistud-1087	63	1	fig	fig	NOUN
eistud-1087	63	2	.	.	PUNCT
eistud-1087	64	1	2	2	X
eistud-1087	64	2	.	.	X
eistud-1087	64	3	general	general	ADJ
eistud-1087	64	4	government	government	NOUN
eistud-1087	64	5	consolidated	consolidate	VERB
eistud-1087	64	6	gross	gross	ADJ
eistud-1087	64	7	debt	debt	NOUN
eistud-1087	64	8	as	as	ADP
eistud-1087	64	9	a	a	DET
eistud-1087	64	10	percentage	percentage	NOUN
eistud-1087	64	11	of	of	ADP
eistud-1087	64	12	gdp	gdp	NOUN
eistud-1087	64	13	(	(	PUNCT
eistud-1087	64	14	eurostat	eurostat	PROPN
eistud-1087	64	15	,	,	PUNCT
eistud-1087	64	16	2011	2011	NUM
eistud-1087	64	17	)	)	PUNCT
eistud-1087	64	18	issn	issn	VERB
eistud-1087	64	19	1822–8402	1822–8402	NUM
eistud-1087	64	20	european	european	ADJ
eistud-1087	64	21	integration	integration	NOUN
eistud-1087	64	22	studies	study	NOUN
eistud-1087	64	23	.	.	PUNCT
eistud-1087	65	1	2011	2011	NUM
eistud-1087	65	2	.	.	PUNCT
eistud-1087	66	1	no	no	DET
eistud-1087	66	2	5	5	NUM
eistud-1087	66	3	127	127	NUM
eistud-1087	66	4	that	that	PRON
eistud-1087	66	5	means	mean	VERB
eistud-1087	66	6	governments	government	NOUN
eistud-1087	66	7	have	have	VERB
eistud-1087	66	8	to	to	PART
eistud-1087	66	9	cut	cut	VERB
eistud-1087	66	10	spending	spending	NOUN
eistud-1087	66	11	,	,	PUNCT
eistud-1087	66	12	raise	raise	VERB
eistud-1087	66	13	taxes	taxis	NOUN
eistud-1087	66	14	and	and	CCONJ
eistud-1087	66	15	divert	divert	NOUN
eistud-1087	66	16	revenues	revenue	NOUN
eistud-1087	66	17	to	to	PART
eistud-1087	66	18	payoff	payoff	VERB
eistud-1087	66	19	interest	interest	NOUN
eistud-1087	66	20	on	on	ADP
eistud-1087	66	21	their	their	PRON
eistud-1087	66	22	debts	debt	NOUN
eistud-1087	66	23	.	.	PUNCT
eistud-1087	67	1	furthermore	furthermore	ADV
eistud-1087	67	2	,	,	PUNCT
eistud-1087	67	3	because	because	SCONJ
eistud-1087	67	4	of	of	ADP
eistud-1087	67	5	the	the	DET
eistud-1087	67	6	worries	worry	NOUN
eistud-1087	67	7	of	of	ADP
eistud-1087	67	8	default	default	NOUN
eistud-1087	67	9	,	,	PUNCT
eistud-1087	67	10	investors	investor	NOUN
eistud-1087	67	11	are	be	AUX
eistud-1087	67	12	demanding	demand	VERB
eistud-1087	67	13	higher	high	ADJ
eistud-1087	67	14	interest	interest	NOUN
eistud-1087	67	15	payments	payment	NOUN
eistud-1087	67	16	before	before	SCONJ
eistud-1087	67	17	they	they	PRON
eistud-1087	67	18	will	will	AUX
eistud-1087	67	19	lend	lend	VERB
eistud-1087	67	20	any	any	DET
eistud-1087	67	21	more	more	ADJ
eistud-1087	67	22	money	money	NOUN
eistud-1087	67	23	.	.	PUNCT
eistud-1087	68	1	the	the	DET
eistud-1087	68	2	risk	risk	NOUN
eistud-1087	68	3	premium	premium	NOUN
eistud-1087	68	4	raises	raise	VERB
eistud-1087	68	5	rates	rate	NOUN
eistud-1087	68	6	on	on	ADP
eistud-1087	68	7	assets	asset	NOUN
eistud-1087	68	8	,	,	PUNCT
eistud-1087	68	9	such	such	ADJ
eistud-1087	68	10	as	as	ADP
eistud-1087	68	11	corporate	corporate	ADJ
eistud-1087	68	12	bonds	bond	NOUN
eistud-1087	68	13	—	—	PUNCT
eistud-1087	68	14	meaning	mean	VERB
eistud-1087	68	15	companies	company	NOUN
eistud-1087	68	16	themselves	themselves	PRON
eistud-1087	68	17	find	find	VERB
eistud-1087	68	18	it	it	PRON
eistud-1087	68	19	more	more	ADV
eistud-1087	68	20	expensive	expensive	ADJ
eistud-1087	68	21	to	to	PART
eistud-1087	68	22	borrow	borrow	VERB
eistud-1087	68	23	.	.	PUNCT
eistud-1087	69	1	deep	deep	ADJ
eistud-1087	69	2	budget	budget	NOUN
eistud-1087	69	3	cuts	cut	NOUN
eistud-1087	69	4	,	,	PUNCT
eistud-1087	69	5	a	a	DET
eistud-1087	69	6	freeze	freeze	NOUN
eistud-1087	69	7	on	on	ADP
eistud-1087	69	8	public	public	ADJ
eistud-1087	69	9	sector	sector	NOUN
eistud-1087	69	10	wages	wage	NOUN
eistud-1087	69	11	,	,	PUNCT
eistud-1087	69	12	pension	pension	NOUN
eistud-1087	69	13	reforms	reform	NOUN
eistud-1087	69	14	,	,	PUNCT
eistud-1087	69	15	increases	increase	NOUN
eistud-1087	69	16	in	in	ADP
eistud-1087	69	17	fuel	fuel	NOUN
eistud-1087	69	18	taxes	taxis	NOUN
eistud-1087	69	19	.	.	PUNCT
eistud-1087	70	1	usually	usually	ADV
eistud-1087	70	2	(	(	PUNCT
eistud-1087	70	3	but	but	CCONJ
eistud-1087	70	4	not	not	PART
eistud-1087	70	5	always	always	ADV
eistud-1087	70	6	)	)	PUNCT
eistud-1087	70	7	when	when	SCONJ
eistud-1087	70	8	debt	debt	NOUN
eistud-1087	70	9	reaches	reach	VERB
eistud-1087	70	10	80	80	NUM
eistud-1087	70	11	percent	percent	NOUN
eistud-1087	70	12	of	of	ADP
eistud-1087	70	13	gdp	gdp	NOUN
eistud-1087	70	14	,	,	PUNCT
eistud-1087	70	15	the	the	DET
eistud-1087	70	16	borrowing	borrowing	NOUN
eistud-1087	70	17	costs	cost	NOUN
eistud-1087	70	18	for	for	ADP
eistud-1087	70	19	governments	government	NOUN
eistud-1087	70	20	starts	start	VERB
eistud-1087	70	21	to	to	PART
eistud-1087	70	22	become	become	VERB
eistud-1087	70	23	higher	high	ADJ
eistud-1087	70	24	.	.	PUNCT
eistud-1087	71	1	markets	market	NOUN
eistud-1087	71	2	become	become	VERB
eistud-1087	71	3	suspicious	suspicious	ADJ
eistud-1087	71	4	and	and	CCONJ
eistud-1087	71	5	suspenseful	suspenseful	ADJ
eistud-1087	71	6	.	.	PUNCT
eistud-1087	72	1	if	if	SCONJ
eistud-1087	72	2	the	the	DET
eistud-1087	72	3	second	second	ADJ
eistud-1087	72	4	stage	stage	NOUN
eistud-1087	72	5	mentioned	mention	VERB
eistud-1087	72	6	above	above	ADV
eistud-1087	72	7	goes	go	VERB
eistud-1087	72	8	up	up	ADP
eistud-1087	72	9	,	,	PUNCT
eistud-1087	72	10	than	than	SCONJ
eistud-1087	72	11	third	third	ADJ
eistud-1087	72	12	stage	stage	NOUN
eistud-1087	72	13	become	become	VERB
eistud-1087	72	14	real	real	ADJ
eistud-1087	72	15	,	,	PUNCT
eistud-1087	72	16	i.e.	i.e.	X
eistud-1087	72	17	downgrades	downgrade	NOUN
eistud-1087	72	18	of	of	ADP
eistud-1087	72	19	financial	financial	ADJ
eistud-1087	72	20	ratings	rating	NOUN
eistud-1087	72	21	.	.	PUNCT
eistud-1087	73	1	when	when	SCONJ
eistud-1087	73	2	deficits	deficit	NOUN
eistud-1087	73	3	and	and	CCONJ
eistud-1087	73	4	debts	debt	NOUN
eistud-1087	73	5	rise	rise	VERB
eistud-1087	73	6	and	and	CCONJ
eistud-1087	73	7	economic	economic	ADJ
eistud-1087	73	8	activity	activity	NOUN
eistud-1087	73	9	appears	appear	VERB
eistud-1087	73	10	to	to	PART
eistud-1087	73	11	be	be	AUX
eistud-1087	73	12	too	too	ADV
eistud-1087	73	13	weak	weak	ADJ
eistud-1087	73	14	to	to	PART
eistud-1087	73	15	solve	solve	VERB
eistud-1087	73	16	fiscal	fiscal	ADJ
eistud-1087	73	17	problems	problem	NOUN
eistud-1087	73	18	,	,	PUNCT
eistud-1087	73	19	the	the	DET
eistud-1087	73	20	credit	credit	NOUN
eistud-1087	73	21	worthiness	worthiness	NOUN
eistud-1087	73	22	of	of	ADP
eistud-1087	73	23	the	the	DET
eistud-1087	73	24	government	government	NOUN
eistud-1087	73	25	falls	fall	VERB
eistud-1087	73	26	under	under	ADP
eistud-1087	73	27	intense	intense	ADJ
eistud-1087	73	28	scrutiny	scrutiny	NOUN
eistud-1087	73	29	.	.	PUNCT
eistud-1087	74	1	this	this	DET
eistud-1087	74	2	moment	moment	NOUN
eistud-1087	74	3	every	every	DET
eistud-1087	74	4	time	time	NOUN
eistud-1087	74	5	is	be	AUX
eistud-1087	74	6	fixed	fix	VERB
eistud-1087	74	7	by	by	ADP
eistud-1087	74	8	watchful	watchful	ADJ
eistud-1087	74	9	international	international	ADJ
eistud-1087	74	10	rating	rating	NOUN
eistud-1087	74	11	agencies	agency	NOUN
eistud-1087	74	12	.	.	PUNCT
eistud-1087	75	1	this	this	DET
eistud-1087	75	2	stage	stage	NOUN
eistud-1087	75	3	in	in	ADP
eistud-1087	75	4	short	short	ADJ
eistud-1087	75	5	term	term	NOUN
eistud-1087	75	6	period	period	NOUN
eistud-1087	75	7	is	be	AUX
eistud-1087	75	8	not	not	PART
eistud-1087	75	9	avoided	avoid	VERB
eistud-1087	75	10	in	in	ADP
eistud-1087	75	11	every	every	DET
eistud-1087	75	12	sovereign	sovereign	ADJ
eistud-1087	75	13	debt	debt	NOUN
eistud-1087	75	14	crisis	crisis	NOUN
eistud-1087	75	15	,	,	PUNCT
eistud-1087	75	16	because	because	SCONJ
eistud-1087	75	17	the	the	DET
eistud-1087	75	18	restructuring	restructuring	NOUN
eistud-1087	75	19	of	of	ADP
eistud-1087	75	20	countries	country	NOUN
eistud-1087	75	21	problems	problem	NOUN
eistud-1087	75	22	takes	take	VERB
eistud-1087	75	23	at	at	ADV
eistud-1087	75	24	least	least	ADV
eistud-1087	75	25	two	two	NUM
eistud-1087	75	26	years	year	NOUN
eistud-1087	75	27	.	.	PUNCT
eistud-1087	76	1	even	even	ADV
eistud-1087	76	2	the	the	DET
eistud-1087	76	3	best	good	ADJ
eistud-1087	76	4	rating	rating	NOUN
eistud-1087	76	5	holders	holder	NOUN
eistud-1087	76	6	,	,	PUNCT
eistud-1087	76	7	like	like	ADP
eistud-1087	76	8	ireland	ireland	PROPN
eistud-1087	76	9	and	and	CCONJ
eistud-1087	76	10	spain	spain	PROPN
eistud-1087	76	11	lost	lose	VERB
eistud-1087	76	12	the	the	DET
eistud-1087	76	13	rating	rating	NOUN
eistud-1087	76	14	due	due	ADJ
eistud-1087	76	15	to	to	ADP
eistud-1087	76	16	decreased	decrease	VERB
eistud-1087	76	17	trust	trust	NOUN
eistud-1087	76	18	and	and	CCONJ
eistud-1087	76	19	believe	believe	VERB
eistud-1087	76	20	that	that	SCONJ
eistud-1087	76	21	countries	country	NOUN
eistud-1087	76	22	are	be	AUX
eistud-1087	76	23	able	able	ADJ
eistud-1087	76	24	to	to	PART
eistud-1087	76	25	serve	serve	VERB
eistud-1087	76	26	the	the	DET
eistud-1087	76	27	present	present	ADJ
eistud-1087	76	28	and	and	CCONJ
eistud-1087	76	29	future	future	ADJ
eistud-1087	76	30	commitments	commitment	NOUN
eistud-1087	76	31	to	to	ADP
eistud-1087	76	32	markets	market	NOUN
eistud-1087	76	33	.	.	PUNCT
eistud-1087	77	1	if	if	SCONJ
eistud-1087	77	2	some	some	DET
eistud-1087	77	3	essential	essential	ADJ
eistud-1087	77	4	changes	change	NOUN
eistud-1087	77	5	in	in	ADP
eistud-1087	77	6	debt	debt	NOUN
eistud-1087	77	7	crisis	crisis	NOUN
eistud-1087	77	8	decisions	decision	NOUN
eistud-1087	77	9	will	will	AUX
eistud-1087	77	10	not	not	PART
eistud-1087	77	11	appear	appear	VERB
eistud-1087	77	12	during	during	ADP
eistud-1087	77	13	near	near	ADJ
eistud-1087	77	14	future	future	NOUN
eistud-1087	77	15	,	,	PUNCT
eistud-1087	77	16	downgrades	downgrade	NOUN
eistud-1087	77	17	are	be	AUX
eistud-1087	77	18	going	go	VERB
eistud-1087	77	19	to	to	PART
eistud-1087	77	20	be	be	AUX
eistud-1087	77	21	a	a	DET
eistud-1087	77	22	great	great	ADJ
eistud-1087	77	23	trouble	trouble	NOUN
eistud-1087	77	24	(	(	PUNCT
eistud-1087	77	25	cole	cole	PROPN
eistud-1087	77	26	,	,	PUNCT
eistud-1087	77	27	kehoe	kehoe	PROPN
eistud-1087	77	28	,	,	PUNCT
eistud-1087	77	29	2000	2000	NUM
eistud-1087	77	30	;	;	PUNCT
eistud-1087	77	31	gros	gro	NOUN
eistud-1087	77	32	,	,	PUNCT
eistud-1087	77	33	2010	2010	NUM
eistud-1087	77	34	)	)	PUNCT
eistud-1087	77	35	default	default	NOUN
eistud-1087	77	36	is	be	AUX
eistud-1087	77	37	the	the	DET
eistud-1087	77	38	final	final	ADJ
eistud-1087	77	39	and	and	CCONJ
eistud-1087	77	40	most	most	ADV
eistud-1087	77	41	negative	negative	ADJ
eistud-1087	77	42	stage	stage	NOUN
eistud-1087	77	43	of	of	ADP
eistud-1087	77	44	financial	financial	ADJ
eistud-1087	77	45	crisis	crisis	NOUN
eistud-1087	77	46	.	.	PUNCT
eistud-1087	78	1	downgrades	downgrade	NOUN
eistud-1087	78	2	only	only	ADV
eistud-1087	78	3	make	make	VERB
eistud-1087	78	4	the	the	DET
eistud-1087	78	5	cycle	cycle	NOUN
eistud-1087	78	6	of	of	ADP
eistud-1087	78	7	weak	weak	ADJ
eistud-1087	78	8	economic	economic	ADJ
eistud-1087	78	9	activity	activity	NOUN
eistud-1087	78	10	and	and	CCONJ
eistud-1087	78	11	growing	grow	VERB
eistud-1087	78	12	dependence	dependence	NOUN
eistud-1087	78	13	on	on	ADP
eistud-1087	78	14	debt	debt	NOUN
eistud-1087	78	15	.	.	PUNCT
eistud-1087	79	1	when	when	SCONJ
eistud-1087	79	2	markets	market	NOUN
eistud-1087	79	3	indicate	indicate	VERB
eistud-1087	79	4	higher	high	ADJ
eistud-1087	79	5	risk	risk	NOUN
eistud-1087	79	6	,	,	PUNCT
eistud-1087	79	7	the	the	DET
eistud-1087	79	8	more	more	ADJ
eistud-1087	79	9	return	return	NOUN
eistud-1087	79	10	will	will	AUX
eistud-1087	79	11	be	be	AUX
eistud-1087	79	12	definitely	definitely	ADV
eistud-1087	79	13	required	require	VERB
eistud-1087	79	14	.	.	PUNCT
eistud-1087	80	1	therefore	therefore	ADV
eistud-1087	80	2	,	,	PUNCT
eistud-1087	80	3	the	the	DET
eistud-1087	80	4	borrowing	borrowing	NOUN
eistud-1087	80	5	costs	cost	NOUN
eistud-1087	80	6	for	for	ADP
eistud-1087	80	7	these	these	DET
eistud-1087	80	8	troubled	trouble	VERB
eistud-1087	80	9	countries	country	NOUN
eistud-1087	80	10	rise	rise	VERB
eistud-1087	80	11	.	.	PUNCT
eistud-1087	81	1	then	then	ADV
eistud-1087	81	2	it	it	PRON
eistud-1087	81	3	becomes	become	VERB
eistud-1087	81	4	harder	hard	ADJ
eistud-1087	81	5	to	to	PART
eistud-1087	81	6	finance	finance	VERB
eistud-1087	81	7	spending	spending	NOUN
eistud-1087	81	8	needs	need	NOUN
eistud-1087	81	9	and	and	CCONJ
eistud-1087	81	10	harder	hard	ADJ
eistud-1087	81	11	to	to	PART
eistud-1087	81	12	finance	finance	VERB
eistud-1087	81	13	existing	exist	VERB
eistud-1087	81	14	debt	debt	NOUN
eistud-1087	81	15	.	.	PUNCT
eistud-1087	82	1	even	even	ADV
eistud-1087	82	2	huge	huge	ADJ
eistud-1087	82	3	rescue	rescue	NOUN
eistud-1087	82	4	package	package	NOUN
eistud-1087	82	5	committed	commit	VERB
eistud-1087	82	6	by	by	ADP
eistud-1087	82	7	the	the	DET
eistud-1087	82	8	eu	eu	PROPN
eistud-1087	82	9	and	and	CCONJ
eistud-1087	82	10	imf	imf	PROPN
eistud-1087	82	11	does	do	AUX
eistud-1087	82	12	n’t	not	PART
eistud-1087	82	13	ensure	ensure	VERB
eistud-1087	82	14	the	the	DET
eistud-1087	82	15	long	long	ADJ
eistud-1087	82	16	-	-	PUNCT
eistud-1087	82	17	term	term	NOUN
eistud-1087	82	18	solvency	solvency	NOUN
eistud-1087	82	19	of	of	ADP
eistud-1087	82	20	greece	greece	PROPN
eistud-1087	82	21	,	,	PUNCT
eistud-1087	82	22	portugal	portugal	PROPN
eistud-1087	82	23	and	and	CCONJ
eistud-1087	82	24	other	other	ADJ
eistud-1087	82	25	eu	eu	PROPN
eistud-1087	82	26	countries	country	NOUN
eistud-1087	82	27	.	.	PUNCT
eistud-1087	83	1	even	even	ADV
eistud-1087	83	2	spain	spain	PROPN
eistud-1087	83	3	,	,	PUNCT
eistud-1087	83	4	an	an	DET
eistud-1087	83	5	economy	economy	NOUN
eistud-1087	83	6	that	that	PRON
eistud-1087	83	7	represents	represent	VERB
eistud-1087	83	8	12	12	NUM
eistud-1087	83	9	percent	percent	NOUN
eistud-1087	83	10	of	of	ADP
eistud-1087	83	11	gdp	gdp	NOUN
eistud-1087	83	12	for	for	ADP
eistud-1087	83	13	the	the	DET
eistud-1087	83	14	euro	euro	PROPN
eistud-1087	83	15	zone	zone	NOUN
eistud-1087	83	16	might	might	AUX
eistud-1087	83	17	be	be	AUX
eistud-1087	83	18	next	next	ADV
eistud-1087	83	19	in	in	ADP
eistud-1087	83	20	line	line	NOUN
eistud-1087	83	21	for	for	ADP
eistud-1087	83	22	a	a	DET
eistud-1087	83	23	massive	massive	ADJ
eistud-1087	83	24	funding	funding	NOUN
eistud-1087	83	25	request	request	NOUN
eistud-1087	83	26	.	.	PUNCT
eistud-1087	84	1	in	in	ADP
eistud-1087	84	2	this	this	DET
eistud-1087	84	3	stage	stage	NOUN
eistud-1087	84	4	deliberate	deliberate	VERB
eistud-1087	84	5	political	political	ADJ
eistud-1087	84	6	and	and	CCONJ
eistud-1087	84	7	financial	financial	ADJ
eistud-1087	84	8	decision	decision	NOUN
eistud-1087	84	9	must	must	AUX
eistud-1087	84	10	be	be	AUX
eistud-1087	84	11	enacted	enact	VERB
eistud-1087	84	12	to	to	PART
eistud-1087	84	13	step	step	VERB
eistud-1087	84	14	out	out	ADP
eistud-1087	84	15	from	from	ADP
eistud-1087	84	16	debt	debt	NOUN
eistud-1087	84	17	crisis	crisis	NOUN
eistud-1087	84	18	(	(	PUNCT
eistud-1087	84	19	calvo	calvo	NOUN
eistud-1087	84	20	,	,	PUNCT
eistud-1087	84	21	1988	1988	NUM
eistud-1087	84	22	;	;	PUNCT
eistud-1087	84	23	rich	rich	ADJ
eistud-1087	84	24	,	,	PUNCT
eistud-1087	84	25	2010	2010	NUM
eistud-1087	84	26	;	;	PUNCT
eistud-1087	84	27	guidotti	guidotti	NOUN
eistud-1087	84	28	,	,	PUNCT
eistud-1087	84	29	kumar	kumar	PROPN
eistud-1087	84	30	,	,	PUNCT
eistud-1087	84	31	1991	1991	NUM
eistud-1087	84	32	)	)	PUNCT
eistud-1087	84	33	.	.	PUNCT
eistud-1087	85	1	theoretical	theoretical	ADJ
eistud-1087	85	2	assumptions	assumption	NOUN
eistud-1087	85	3	of	of	ADP
eistud-1087	85	4	debt	debt	NOUN
eistud-1087	85	5	structures	structure	NOUN
eistud-1087	85	6	development	development	NOUN
eistud-1087	85	7	in	in	ADP
eistud-1087	85	8	analyzing	analyze	VERB
eistud-1087	85	9	existing	exist	VERB
eistud-1087	85	10	debt	debt	NOUN
eistud-1087	85	11	structures	structure	NOUN
eistud-1087	85	12	,	,	PUNCT
eistud-1087	85	13	two	two	NUM
eistud-1087	85	14	sets	set	NOUN
eistud-1087	85	15	of	of	ADP
eistud-1087	85	16	comparisons	comparison	NOUN
eistud-1087	85	17	provide	provide	VERB
eistud-1087	85	18	insights	insight	NOUN
eistud-1087	85	19	into	into	ADP
eistud-1087	85	20	how	how	SCONJ
eistud-1087	85	21	debt	debt	NOUN
eistud-1087	85	22	structures	structure	NOUN
eistud-1087	85	23	might	might	AUX
eistud-1087	85	24	be	be	AUX
eistud-1087	85	25	improved	improve	VERB
eistud-1087	85	26	.	.	PUNCT
eistud-1087	86	1	first	first	ADV
eistud-1087	86	2	,	,	PUNCT
eistud-1087	86	3	a	a	DET
eistud-1087	86	4	comparison	comparison	NOUN
eistud-1087	86	5	between	between	ADP
eistud-1087	86	6	debt	debt	NOUN
eistud-1087	86	7	structures	structure	NOUN
eistud-1087	86	8	in	in	ADP
eistud-1087	86	9	less	less	ADV
eistud-1087	86	10	advanced	advanced	ADJ
eistud-1087	86	11	countries	country	NOUN
eistud-1087	86	12	and	and	CCONJ
eistud-1087	86	13	advanced	advanced	ADJ
eistud-1087	86	14	economies	economy	NOUN
eistud-1087	86	15	highlights	highlight	NOUN
eistud-1087	86	16	characteristics	characteristic	NOUN
eistud-1087	86	17	that	that	PRON
eistud-1087	86	18	make	make	VERB
eistud-1087	86	19	advanced	advanced	ADJ
eistud-1087	86	20	economies	economy	NOUN
eistud-1087	86	21	less	less	ADJ
eistud-1087	86	22	crisis	crisis	NOUN
eistud-1087	86	23	prone	prone	ADJ
eistud-1087	86	24	.	.	PUNCT
eistud-1087	87	1	compared	compare	VERB
eistud-1087	87	2	with	with	ADP
eistud-1087	87	3	advanced	advanced	ADJ
eistud-1087	87	4	economies	economy	NOUN
eistud-1087	87	5	,	,	PUNCT
eistud-1087	87	6	less	less	ADV
eistud-1087	87	7	advanced	advanced	ADJ
eistud-1087	87	8	countries	country	NOUN
eistud-1087	87	9	find	find	VERB
eistud-1087	87	10	it	it	PRON
eistud-1087	87	11	relatively	relatively	ADV
eistud-1087	87	12	difficult	difficult	ADJ
eistud-1087	87	13	to	to	PART
eistud-1087	87	14	issue	issue	VERB
eistud-1087	87	15	long	long	ADJ
eistud-1087	87	16	-	-	PUNCT
eistud-1087	87	17	term	term	NOUN
eistud-1087	87	18	debt	debt	NOUN
eistud-1087	87	19	in	in	ADP
eistud-1087	87	20	their	their	PRON
eistud-1087	87	21	own	own	ADJ
eistud-1087	87	22	currencies	currency	NOUN
eistud-1087	87	23	.	.	PUNCT
eistud-1087	88	1	greater	great	ADJ
eistud-1087	88	2	reliance	reliance	NOUN
eistud-1087	88	3	on	on	ADP
eistud-1087	88	4	short	short	ADJ
eistud-1087	88	5	-	-	PUNCT
eistud-1087	88	6	term	term	NOUN
eistud-1087	88	7	and	and	CCONJ
eistud-1087	88	8	foreign	foreign	ADJ
eistud-1087	88	9	currency	currency	NOUN
eistud-1087	88	10	debt	debt	NOUN
eistud-1087	88	11	is	be	AUX
eistud-1087	88	12	associated	associate	VERB
eistud-1087	88	13	with	with	ADP
eistud-1087	88	14	a	a	DET
eistud-1087	88	15	higher	high	ADJ
eistud-1087	88	16	frequency	frequency	NOUN
eistud-1087	88	17	of	of	ADP
eistud-1087	88	18	asymmetric	asymmetric	ADJ
eistud-1087	88	19	shocks	shock	NOUN
eistud-1087	88	20	and	and	CCONJ
eistud-1087	88	21	sovereign	sovereign	ADJ
eistud-1087	88	22	debt	debt	NOUN
eistud-1087	88	23	problems	problem	NOUN
eistud-1087	88	24	.	.	PUNCT
eistud-1087	89	1	shortterm	shortterm	VERB
eistud-1087	89	2	debt	debt	NOUN
eistud-1087	89	3	(	(	PUNCT
eistud-1087	89	4	or	or	CCONJ
eistud-1087	89	5	debt	debt	NOUN
eistud-1087	89	6	indexed	index	VERB
eistud-1087	89	7	to	to	ADP
eistud-1087	89	8	short	short	ADJ
eistud-1087	89	9	-	-	PUNCT
eistud-1087	89	10	term	term	NOUN
eistud-1087	89	11	domestic	domestic	ADJ
eistud-1087	89	12	interest	interest	NOUN
eistud-1087	89	13	rates	rate	NOUN
eistud-1087	89	14	)	)	PUNCT
eistud-1087	89	15	is	be	AUX
eistud-1087	89	16	associated	associate	VERB
eistud-1087	89	17	with	with	ADP
eistud-1087	89	18	vulnerability	vulnerability	NOUN
eistud-1087	89	19	to	to	ADP
eistud-1087	89	20	sudden	sudden	ADJ
eistud-1087	89	21	changes	change	NOUN
eistud-1087	89	22	in	in	ADP
eistud-1087	89	23	market	market	NOUN
eistud-1087	89	24	sentiment	sentiment	NOUN
eistud-1087	89	25	:	:	PUNCT
eistud-1087	89	26	worsening	worsen	VERB
eistud-1087	89	27	perceptions	perception	NOUN
eistud-1087	89	28	of	of	ADP
eistud-1087	89	29	the	the	DET
eistud-1087	89	30	country	country	NOUN
eistud-1087	89	31	’s	’s	PART
eistud-1087	89	32	creditworthiness	creditworthiness	NOUN
eistud-1087	89	33	can	can	AUX
eistud-1087	89	34	quickly	quickly	ADV
eistud-1087	89	35	feed	feed	VERB
eistud-1087	89	36	into	into	ADP
eistud-1087	89	37	higher	high	ADJ
eistud-1087	89	38	interest	interest	NOUN
eistud-1087	89	39	costs	cost	NOUN
eistud-1087	89	40	,	,	PUNCT
eistud-1087	89	41	often	often	ADV
eistud-1087	89	42	leading	lead	VERB
eistud-1087	89	43	to	to	ADP
eistud-1087	89	44	vicious	vicious	ADJ
eistud-1087	89	45	circles	circle	NOUN
eistud-1087	89	46	.	.	PUNCT
eistud-1087	90	1	similarly	similarly	ADV
eistud-1087	90	2	,	,	PUNCT
eistud-1087	90	3	with	with	ADP
eistud-1087	90	4	relatively	relatively	ADV
eistud-1087	90	5	large	large	ADJ
eistud-1087	90	6	shares	share	NOUN
eistud-1087	90	7	of	of	ADP
eistud-1087	90	8	foreign	foreign	ADJ
eistud-1087	90	9	currency	currency	NOUN
eistud-1087	90	10	debt	debt	NOUN
eistud-1087	90	11	,	,	PUNCT
eistud-1087	90	12	depreciations	depreciation	NOUN
eistud-1087	90	13	can	can	AUX
eistud-1087	90	14	abruptly	abruptly	ADV
eistud-1087	90	15	render	render	VERB
eistud-1087	90	16	a	a	DET
eistud-1087	90	17	country	country	NOUN
eistud-1087	90	18	insolvent	insolvent	ADJ
eistud-1087	90	19	.	.	PUNCT
eistud-1087	91	1	only	only	ADV
eistud-1087	91	2	a	a	DET
eistud-1087	91	3	handful	handful	NOUN
eistud-1087	91	4	of	of	ADP
eistud-1087	91	5	the	the	DET
eistud-1087	91	6	largest	large	ADJ
eistud-1087	91	7	economies	economy	NOUN
eistud-1087	91	8	issue	issue	VERB
eistud-1087	91	9	debt	debt	NOUN
eistud-1087	91	10	denominated	denominate	VERB
eistud-1087	91	11	in	in	ADP
eistud-1087	91	12	their	their	PRON
eistud-1087	91	13	own	own	ADJ
eistud-1087	91	14	currency	currency	NOUN
eistud-1087	91	15	on	on	ADP
eistud-1087	91	16	international	international	ADJ
eistud-1087	91	17	markets	market	NOUN
eistud-1087	91	18	,	,	PUNCT
eistud-1087	91	19	perhaps	perhaps	ADV
eistud-1087	91	20	reflecting	reflect	VERB
eistud-1087	91	21	in	in	ADP
eistud-1087	91	22	part	part	NOUN
eistud-1087	91	23	their	their	PRON
eistud-1087	91	24	economic	economic	ADJ
eistud-1087	91	25	size	size	NOUN
eistud-1087	91	26	and	and	CCONJ
eistud-1087	91	27	the	the	DET
eistud-1087	91	28	use	use	NOUN
eistud-1087	91	29	of	of	ADP
eistud-1087	91	30	their	their	PRON
eistud-1087	91	31	currencies	currency	NOUN
eistud-1087	91	32	as	as	ADP
eistud-1087	91	33	a	a	DET
eistud-1087	91	34	vehicle	vehicle	NOUN
eistud-1087	91	35	for	for	ADP
eistud-1087	91	36	international	international	ADJ
eistud-1087	91	37	trade	trade	NOUN
eistud-1087	91	38	.	.	PUNCT
eistud-1087	92	1	bonds	bond	NOUN
eistud-1087	92	2	issued	issue	VERB
eistud-1087	92	3	internationally	internationally	ADV
eistud-1087	92	4	are	be	AUX
eistud-1087	92	5	otherwise	otherwise	ADV
eistud-1087	92	6	relatively	relatively	ADV
eistud-1087	92	7	homogeneous	homogeneous	ADJ
eistud-1087	92	8	,	,	PUNCT
eistud-1087	92	9	usually	usually	ADV
eistud-1087	92	10	taking	take	VERB
eistud-1087	92	11	the	the	DET
eistud-1087	92	12	form	form	NOUN
eistud-1087	92	13	of	of	ADP
eistud-1087	92	14	fixedrate	fixedrate	ADJ
eistud-1087	92	15	bonds	bond	NOUN
eistud-1087	92	16	with	with	ADP
eistud-1087	92	17	relatively	relatively	ADV
eistud-1087	92	18	long	long	ADJ
eistud-1087	92	19	maturities	maturity	NOUN
eistud-1087	92	20	.	.	PUNCT
eistud-1087	93	1	by	by	ADP
eistud-1087	93	2	contrast	contrast	NOUN
eistud-1087	93	3	,	,	PUNCT
eistud-1087	93	4	the	the	DET
eistud-1087	93	5	composition	composition	NOUN
eistud-1087	93	6	of	of	ADP
eistud-1087	93	7	debt	debt	NOUN
eistud-1087	93	8	issued	issue	VERB
eistud-1087	93	9	domestically	domestically	ADV
eistud-1087	93	10	varies	vary	VERB
eistud-1087	93	11	considerably	considerably	ADV
eistud-1087	93	12	across	across	ADP
eistud-1087	93	13	countries	country	NOUN
eistud-1087	93	14	(	(	PUNCT
eistud-1087	93	15	missale	missale	ADJ
eistud-1087	93	16	,	,	PUNCT
eistud-1087	93	17	2009	2009	NUM
eistud-1087	93	18	;	;	PUNCT
eistud-1087	93	19	reinhart	reinhart	PROPN
eistud-1087	93	20	,	,	PUNCT
eistud-1087	93	21	rogoff	rogoff	NOUN
eistud-1087	93	22	,	,	PUNCT
eistud-1087	93	23	savastano	savastano	NOUN
eistud-1087	93	24	,	,	PUNCT
eistud-1087	93	25	2003	2003	NUM
eistud-1087	93	26	)	)	PUNCT
eistud-1087	93	27	.	.	PUNCT
eistud-1087	94	1	less	less	ADV
eistud-1087	94	2	advanced	advanced	ADJ
eistud-1087	94	3	countries	country	NOUN
eistud-1087	94	4	’	'	PUNCT
eistud-1087	94	5	difficulties	difficulty	NOUN
eistud-1087	94	6	in	in	ADP
eistud-1087	94	7	issuing	issue	VERB
eistud-1087	94	8	long	long	ADJ
eistud-1087	94	9	-	-	PUNCT
eistud-1087	94	10	term	term	NOUN
eistud-1087	94	11	local	local	ADJ
eistud-1087	94	12	-	-	PUNCT
eistud-1087	94	13	currency	currency	NOUN
eistud-1087	94	14	bonds	bond	NOUN
eistud-1087	94	15	on	on	ADP
eistud-1087	94	16	the	the	DET
eistud-1087	94	17	domestic	domestic	ADJ
eistud-1087	94	18	market	market	NOUN
eistud-1087	94	19	seem	seem	VERB
eistud-1087	94	20	to	to	PART
eistud-1087	94	21	result	result	VERB
eistud-1087	94	22	from	from	ADP
eistud-1087	94	23	deeper	deep	ADJ
eistud-1087	94	24	problems	problem	NOUN
eistud-1087	94	25	,	,	PUNCT
eistud-1087	94	26	such	such	ADJ
eistud-1087	94	27	as	as	ADP
eistud-1087	94	28	lack	lack	NOUN
eistud-1087	94	29	of	of	ADP
eistud-1087	94	30	monetary	monetary	ADJ
eistud-1087	94	31	and	and	CCONJ
eistud-1087	94	32	fiscal	fiscal	ADJ
eistud-1087	94	33	policy	policy	NOUN
eistud-1087	94	34	credibility	credibility	NOUN
eistud-1087	94	35	(	(	PUNCT
eistud-1087	94	36	in	in	ADP
eistud-1087	94	37	eu	eu	PROPN
eistud-1087	94	38	especially	especially	ADV
eistud-1087	94	39	for	for	ADP
eistud-1087	94	40	countries	country	NOUN
eistud-1087	94	41	not	not	PART
eistud-1087	94	42	member	member	NOUN
eistud-1087	94	43	of	of	ADP
eistud-1087	94	44	euro	euro	PROPN
eistud-1087	94	45	zone	zone	NOUN
eistud-1087	94	46	)	)	PUNCT
eistud-1087	94	47	,	,	PUNCT
eistud-1087	94	48	and	and	CCONJ
eistud-1087	94	49	related	related	ADJ
eistud-1087	94	50	worries	worry	NOUN
eistud-1087	94	51	about	about	ADP
eistud-1087	94	52	the	the	DET
eistud-1087	94	53	possibility	possibility	NOUN
eistud-1087	94	54	of	of	ADP
eistud-1087	94	55	inflation	inflation	NOUN
eistud-1087	94	56	.	.	PUNCT
eistud-1087	95	1	regarding	regard	VERB
eistud-1087	95	2	debt	debt	NOUN
eistud-1087	95	3	issued	issue	VERB
eistud-1087	95	4	internationally	internationally	ADV
eistud-1087	95	5	,	,	PUNCT
eistud-1087	95	6	some	some	DET
eistud-1087	95	7	international	international	ADJ
eistud-1087	95	8	financial	financial	ADJ
eistud-1087	95	9	institutions	institution	NOUN
eistud-1087	95	10	(	(	PUNCT
eistud-1087	95	11	ifis	ifis	PROPN
eistud-1087	95	12	)	)	PUNCT
eistud-1087	95	13	have	have	AUX
eistud-1087	95	14	often	often	ADV
eistud-1087	95	15	been	be	AUX
eistud-1087	95	16	among	among	ADP
eistud-1087	95	17	the	the	DET
eistud-1087	95	18	first	first	ADJ
eistud-1087	95	19	parties	party	NOUN
eistud-1087	95	20	to	to	PART
eistud-1087	95	21	issue	issue	VERB
eistud-1087	95	22	bonds	bond	NOUN
eistud-1087	95	23	denominated	denominate	VERB
eistud-1087	95	24	in	in	ADP
eistud-1087	95	25	the	the	DET
eistud-1087	95	26	currencies	currency	NOUN
eistud-1087	95	27	of	of	ADP
eistud-1087	95	28	less	less	ADV
eistud-1087	95	29	advanced	advanced	ADJ
eistud-1087	95	30	countries	country	NOUN
eistud-1087	95	31	(	(	PUNCT
eistud-1087	95	32	usually	usually	ADV
eistud-1087	95	33	in	in	ADP
eistud-1087	95	34	combination	combination	NOUN
eistud-1087	95	35	with	with	ADP
eistud-1087	95	36	exchange	exchange	NOUN
eistud-1087	95	37	rate	rate	NOUN
eistud-1087	95	38	swaps	swap	NOUN
eistud-1087	95	39	with	with	ADP
eistud-1087	95	40	emerging	emerge	VERB
eistud-1087	95	41	market	market	NOUN
eistud-1087	95	42	residents	resident	NOUN
eistud-1087	95	43	that	that	PRON
eistud-1087	95	44	issue	issue	VERB
eistud-1087	95	45	in	in	ADP
eistud-1087	95	46	one	one	NUM
eistud-1087	95	47	of	of	ADP
eistud-1087	95	48	the	the	DET
eistud-1087	95	49	world	world	NOUN
eistud-1087	95	50	’s	’s	PART
eistud-1087	95	51	main	main	ADJ
eistud-1087	95	52	currencies	currency	NOUN
eistud-1087	95	53	)	)	PUNCT
eistud-1087	95	54	.	.	PUNCT
eistud-1087	96	1	opportunities	opportunity	NOUN
eistud-1087	96	2	to	to	PART
eistud-1087	96	3	raise	raise	VERB
eistud-1087	96	4	funds	fund	NOUN
eistud-1087	96	5	at	at	ADP
eistud-1087	96	6	more	more	ADV
eistud-1087	96	7	favorable	favorable	ADJ
eistud-1087	96	8	rates	rate	NOUN
eistud-1087	96	9	have	have	AUX
eistud-1087	96	10	been	be	AUX
eistud-1087	96	11	,	,	PUNCT
eistud-1087	96	12	and	and	CCONJ
eistud-1087	96	13	should	should	AUX
eistud-1087	96	14	continue	continue	VERB
eistud-1087	96	15	to	to	PART
eistud-1087	96	16	be	be	AUX
eistud-1087	96	17	,	,	PUNCT
eistud-1087	96	18	the	the	DET
eistud-1087	96	19	primary	primary	ADJ
eistud-1087	96	20	motivation	motivation	NOUN
eistud-1087	96	21	for	for	ADP
eistud-1087	96	22	the	the	DET
eistud-1087	96	23	ifis	ifis	PROPN
eistud-1087	96	24	’	'	PUNCT
eistud-1087	96	25	involvement	involvement	NOUN
eistud-1087	96	26	in	in	ADP
eistud-1087	96	27	these	these	DET
eistud-1087	96	28	operations	operation	NOUN
eistud-1087	96	29	:	:	PUNCT
eistud-1087	96	30	the	the	DET
eistud-1087	96	31	ifis	ifis	NOUN
eistud-1087	96	32	have	have	AUX
eistud-1087	96	33	been	be	AUX
eistud-1087	96	34	able	able	ADJ
eistud-1087	96	35	to	to	PART
eistud-1087	96	36	tap	tap	VERB
eistud-1087	96	37	new	new	ADJ
eistud-1087	96	38	investor	investor	NOUN
eistud-1087	96	39	bases	basis	NOUN
eistud-1087	96	40	interested	interested	ADJ
eistud-1087	96	41	in	in	ADP
eistud-1087	96	42	holding	hold	VERB
eistud-1087	96	43	assets	asset	NOUN
eistud-1087	96	44	denominated	denominate	VERB
eistud-1087	96	45	in	in	ADP
eistud-1087	96	46	less	less	ADV
eistud-1087	96	47	advanced	advanced	ADJ
eistud-1087	96	48	currencies	currency	NOUN
eistud-1087	96	49	but	but	CCONJ
eistud-1087	96	50	bearing	bear	VERB
eistud-1087	96	51	no	no	DET
eistud-1087	96	52	default	default	NOUN
eistud-1087	96	53	risk	risk	NOUN
eistud-1087	96	54	.	.	PUNCT
eistud-1087	97	1	this	this	PRON
eistud-1087	97	2	said	say	VERB
eistud-1087	97	3	,	,	PUNCT
eistud-1087	97	4	contributions	contribution	NOUN
eistud-1087	97	5	to	to	ADP
eistud-1087	97	6	the	the	DET
eistud-1087	97	7	development	development	NOUN
eistud-1087	97	8	of	of	ADP
eistud-1087	97	9	new	new	ADJ
eistud-1087	97	10	financial	financial	ADJ
eistud-1087	97	11	markets	market	NOUN
eistud-1087	97	12	that	that	PRON
eistud-1087	97	13	can	can	AUX
eistud-1087	97	14	later	later	ADV
eistud-1087	97	15	be	be	AUX
eistud-1087	97	16	tapped	tap	VERB
eistud-1087	97	17	by	by	ADP
eistud-1087	97	18	developing	develop	VERB
eistud-1087	97	19	countries	country	NOUN
eistud-1087	97	20	are	be	AUX
eistud-1087	97	21	a	a	DET
eistud-1087	97	22	welcome	welcome	NOUN
eistud-1087	97	23	by	by	ADP
eistud-1087	97	24	product	product	NOUN
eistud-1087	97	25	of	of	ADP
eistud-1087	97	26	such	such	ADJ
eistud-1087	97	27	funding	funding	NOUN
eistud-1087	97	28	decisions	decision	NOUN
eistud-1087	97	29	by	by	ADP
eistud-1087	97	30	the	the	DET
eistud-1087	97	31	ifis	ifis	PROPN
eistud-1087	97	32	.	.	PUNCT
eistud-1087	98	1	ideas	idea	NOUN
eistud-1087	98	2	for	for	ADP
eistud-1087	98	3	sovereign	sovereign	ADJ
eistud-1087	98	4	debt	debt	NOUN
eistud-1087	98	5	structurising	structurising	NOUN
eistud-1087	98	6	came	come	VERB
eistud-1087	98	7	from	from	ADP
eistud-1087	98	8	the	the	DET
eistud-1087	98	9	corporate	corporate	ADJ
eistud-1087	98	10	context	context	NOUN
eistud-1087	98	11	.	.	PUNCT
eistud-1087	99	1	explicit	explicit	ADJ
eistud-1087	99	2	seniority	seniority	NOUN
eistud-1087	99	3	partly	partly	ADV
eistud-1087	99	4	as	as	ADP
eistud-1087	99	5	a	a	DET
eistud-1087	99	6	result	result	NOUN
eistud-1087	99	7	of	of	ADP
eistud-1087	99	8	contract	contract	NOUN
eistud-1087	99	9	enforcement	enforcement	NOUN
eistud-1087	99	10	issues	issue	NOUN
eistud-1087	99	11	,	,	PUNCT
eistud-1087	99	12	sovereign	sovereign	ADJ
eistud-1087	99	13	liability	liability	NOUN
eistud-1087	99	14	structures	structure	NOUN
eistud-1087	99	15	both	both	CCONJ
eistud-1087	99	16	in	in	ADP
eistud-1087	99	17	less	less	ADV
eistud-1087	99	18	advanced	advanced	ADJ
eistud-1087	99	19	countries	country	NOUN
eistud-1087	99	20	and	and	CCONJ
eistud-1087	99	21	in	in	ADP
eistud-1087	99	22	advanced	advanced	ADJ
eistud-1087	99	23	economies	economy	NOUN
eistud-1087	99	24	are	be	AUX
eistud-1087	99	25	not	not	PART
eistud-1087	99	26	as	as	ADV
eistud-1087	99	27	rich	rich	ADJ
eistud-1087	99	28	as	as	ADP
eistud-1087	99	29	those	those	PRON
eistud-1087	99	30	of	of	ADP
eistud-1087	99	31	corporations	corporation	NOUN
eistud-1087	99	32	.	.	PUNCT
eistud-1087	100	1	a	a	DET
eistud-1087	100	2	notable	notable	ADJ
eistud-1087	100	3	difference	difference	NOUN
eistud-1087	100	4	is	be	AUX
eistud-1087	100	5	a	a	DET
eistud-1087	100	6	lack	lack	NOUN
eistud-1087	100	7	of	of	ADP
eistud-1087	100	8	an	an	DET
eistud-1087	100	9	explicit	explicit	ADJ
eistud-1087	100	10	seniority	seniority	NOUN
eistud-1087	100	11	structure	structure	NOUN
eistud-1087	100	12	,	,	PUNCT
eistud-1087	100	13	which	which	PRON
eistud-1087	100	14	at	at	ADP
eistud-1087	100	15	the	the	DET
eistud-1087	100	16	corporate	corporate	ADJ
eistud-1087	100	17	level	level	NOUN
eistud-1087	100	18	exists	exist	VERB
eistud-1087	100	19	either	either	CCONJ
eistud-1087	100	20	by	by	ADP
eistud-1087	100	21	statute	statute	NOUN
eistud-1087	100	22	or	or	CCONJ
eistud-1087	100	23	through	through	ADP
eistud-1087	100	24	bond	bond	NOUN
eistud-1087	100	25	covenants	covenant	NOUN
eistud-1087	100	26	.	.	PUNCT
eistud-1087	101	1	as	as	ADP
eistud-1087	101	2	a	a	DET
eistud-1087	101	3	result	result	NOUN
eistud-1087	101	4	,	,	PUNCT
eistud-1087	101	5	sovereign	sovereign	ADJ
eistud-1087	101	6	creditors	creditor	NOUN
eistud-1087	101	7	tend	tend	VERB
eistud-1087	101	8	to	to	PART
eistud-1087	101	9	be	be	AUX
eistud-1087	101	10	more	more	ADV
eistud-1087	101	11	exposed	expose	VERB
eistud-1087	101	12	to	to	ADP
eistud-1087	101	13	“	"	PUNCT
eistud-1087	101	14	debt	debt	NOUN
eistud-1087	101	15	dilution	dilution	NOUN
eistud-1087	101	16	”	"	PUNCT
eistud-1087	101	17	than	than	SCONJ
eistud-1087	101	18	do	do	VERB
eistud-1087	101	19	their	their	PRON
eistud-1087	101	20	corporate	corporate	ADJ
eistud-1087	101	21	counterparts	counterpart	NOUN
eistud-1087	101	22	.	.	PUNCT
eistud-1087	102	1	debt	debt	NOUN
eistud-1087	102	2	dilution	dilution	NOUN
eistud-1087	102	3	occurs	occur	VERB
eistud-1087	102	4	when	when	SCONJ
eistud-1087	102	5	new	new	ADJ
eistud-1087	102	6	debt	debt	NOUN
eistud-1087	102	7	reduces	reduce	VERB
eistud-1087	102	8	the	the	DET
eistud-1087	102	9	claim	claim	NOUN
eistud-1087	102	10	that	that	SCONJ
eistud-1087	102	11	existing	exist	VERB
eistud-1087	102	12	creditors	creditor	NOUN
eistud-1087	102	13	can	can	AUX
eistud-1087	102	14	hope	hope	VERB
eistud-1087	102	15	to	to	PART
eistud-1087	102	16	recover	recover	VERB
eistud-1087	102	17	in	in	ADP
eistud-1087	102	18	the	the	DET
eistud-1087	102	19	event	event	NOUN
eistud-1087	102	20	of	of	ADP
eistud-1087	102	21	a	a	DET
eistud-1087	102	22	default	default	NOUN
eistud-1087	102	23	.	.	PUNCT
eistud-1087	103	1	long	long	ADV
eistud-1087	103	2	recognized	recognize	VERB
eistud-1087	103	3	as	as	ADP
eistud-1087	103	4	a	a	DET
eistud-1087	103	5	problem	problem	NOUN
eistud-1087	103	6	in	in	ADP
eistud-1087	103	7	corporate	corporate	ADJ
eistud-1087	103	8	debt	debt	NOUN
eistud-1087	103	9	,	,	PUNCT
eistud-1087	103	10	dilution	dilution	NOUN
eistud-1087	103	11	seems	seem	VERB
eistud-1087	103	12	to	to	PART
eistud-1087	103	13	have	have	AUX
eistud-1087	103	14	recently	recently	ADV
eistud-1087	103	15	become	become	VERB
eistud-1087	103	16	a	a	DET
eistud-1087	103	17	significant	significant	ADJ
eistud-1087	103	18	problem	problem	NOUN
eistud-1087	103	19	in	in	ADP
eistud-1087	103	20	sovereign	sovereign	ADJ
eistud-1087	103	21	debt	debt	NOUN
eistud-1087	103	22	markets	market	NOUN
eistud-1087	103	23	.	.	PUNCT
eistud-1087	104	1	debt	debt	NOUN
eistud-1087	104	2	dilution	dilution	NOUN
eistud-1087	104	3	has	have	VERB
eistud-1087	104	4	undesirable	undesirable	ADJ
eistud-1087	104	5	consequences	consequence	NOUN
eistud-1087	104	6	for	for	ADP
eistud-1087	104	7	both	both	DET
eistud-1087	104	8	debt	debt	NOUN
eistud-1087	104	9	structures	structure	NOUN
eistud-1087	104	10	and	and	CCONJ
eistud-1087	104	11	the	the	DET
eistud-1087	104	12	amounts	amount	NOUN
eistud-1087	104	13	and	and	CCONJ
eistud-1087	104	14	terms	term	NOUN
eistud-1087	104	15	at	at	ADP
eistud-1087	104	16	which	which	PRON
eistud-1087	104	17	sovereigns	sovereign	NOUN
eistud-1087	104	18	borrow	borrow	VERB
eistud-1087	104	19	.	.	PUNCT
eistud-1087	105	1	its	its	PRON
eistud-1087	105	2	adverse	adverse	ADJ
eistud-1087	105	3	effects	effect	NOUN
eistud-1087	105	4	on	on	ADP
eistud-1087	105	5	debt	debt	NOUN
eistud-1087	105	6	structure	structure	NOUN
eistud-1087	105	7	stem	stem	NOUN
eistud-1087	105	8	from	from	ADP
eistud-1087	105	9	investors	investor	NOUN
eistud-1087	105	10	’	'	PUNCT
eistud-1087	105	11	efforts	effort	NOUN
eistud-1087	105	12	to	to	PART
eistud-1087	105	13	hold	hold	VERB
eistud-1087	105	14	debt	debt	NOUN
eistud-1087	105	15	forms	form	NOUN
eistud-1087	105	16	that	that	PRON
eistud-1087	105	17	are	be	AUX
eistud-1087	105	18	harder	hard	ADJ
eistud-1087	105	19	to	to	PART
eistud-1087	105	20	dilute	dilute	VERB
eistud-1087	105	21	—	—	PUNCT
eistud-1087	105	22	such	such	ADJ
eistud-1087	105	23	as	as	ADP
eistud-1087	105	24	shortterm	shortterm	PROPN
eistud-1087	105	25	debt	debt	NOUN
eistud-1087	105	26	or	or	CCONJ
eistud-1087	105	27	debt	debt	NOUN
eistud-1087	105	28	that	that	PRON
eistud-1087	105	29	is	be	AUX
eistud-1087	105	30	costly	costly	ADJ
eistud-1087	105	31	to	to	PART
eistud-1087	105	32	restructure	restructure	VERB
eistud-1087	105	33	.	.	PUNCT
eistud-1087	106	1	such	such	ADJ
eistud-1087	106	2	instruments	instrument	NOUN
eistud-1087	106	3	in	in	ADP
eistud-1087	106	4	turn	turn	NOUN
eistud-1087	106	5	make	make	VERB
eistud-1087	106	6	the	the	DET
eistud-1087	106	7	debtor	debtor	NOUN
eistud-1087	106	8	more	more	ADV
eistud-1087	106	9	vulnerable	vulnerable	ADJ
eistud-1087	106	10	to	to	ADP
eistud-1087	106	11	crises	crisis	NOUN
eistud-1087	106	12	and	and	CCONJ
eistud-1087	106	13	render	render	VERB
eistud-1087	106	14	the	the	DET
eistud-1087	106	15	impact	impact	NOUN
eistud-1087	106	16	of	of	ADP
eistud-1087	106	17	crises	crisis	NOUN
eistud-1087	106	18	more	more	ADV
eistud-1087	106	19	severe	severe	ADJ
eistud-1087	106	20	.	.	PUNCT
eistud-1087	107	1	dilution	dilution	NOUN
eistud-1087	107	2	also	also	ADV
eistud-1087	107	3	increases	increase	VERB
eistud-1087	107	4	the	the	DET
eistud-1087	107	5	likelihood	likelihood	NOUN
eistud-1087	107	6	that	that	SCONJ
eistud-1087	107	7	highly	highly	ADV
eistud-1087	107	8	indebted	indebted	ADJ
eistud-1087	107	9	countries	country	NOUN
eistud-1087	107	10	will	will	AUX
eistud-1087	107	11	over	over	AUX
eistud-1087	107	12	borrow	borrow	VERB
eistud-1087	107	13	.	.	PUNCT
eistud-1087	108	1	countries	country	NOUN
eistud-1087	108	2	near	near	ADP
eistud-1087	108	3	default	default	NOUN
eistud-1087	108	4	may	may	AUX
eistud-1087	108	5	be	be	AUX
eistud-1087	108	6	able	able	ADJ
eistud-1087	108	7	to	to	PART
eistud-1087	108	8	place	place	VERB
eistud-1087	108	9	new	new	ADJ
eistud-1087	108	10	debt	debt	NOUN
eistud-1087	108	11	with	with	ADP
eistud-1087	108	12	investors	investor	NOUN
eistud-1087	108	13	without	without	ADP
eistud-1087	108	14	facing	face	VERB
eistud-1087	108	15	prohibitive	prohibitive	ADJ
eistud-1087	108	16	interest	interest	NOUN
eistud-1087	108	17	rates	rate	NOUN
eistud-1087	108	18	,	,	PUNCT
eistud-1087	108	19	as	as	SCONJ
eistud-1087	108	20	the	the	DET
eistud-1087	108	21	new	new	ADJ
eistud-1087	108	22	creditors	creditor	NOUN
eistud-1087	108	23	effectively	effectively	ADV
eistud-1087	108	24	obtain	obtain	VERB
eistud-1087	108	25	a	a	DET
eistud-1087	108	26	share	share	NOUN
eistud-1087	108	27	of	of	ADP
eistud-1087	108	28	the	the	DET
eistud-1087	108	29	existing	exist	VERB
eistud-1087	108	30	creditors	creditor	NOUN
eistud-1087	108	31	’	’	PART
eistud-1087	108	32	debt	debt	NOUN
eistud-1087	108	33	recovery	recovery	NOUN
eistud-1087	108	34	value	value	NOUN
eistud-1087	108	35	.	.	PUNCT
eistud-1087	109	1	at	at	ADP
eistud-1087	109	2	low	low	ADJ
eistud-1087	109	3	debt	debt	NOUN
eistud-1087	109	4	levels	level	NOUN
eistud-1087	109	5	,	,	PUNCT
eistud-1087	109	6	the	the	DET
eistud-1087	109	7	opposite	opposite	ADJ
eistud-1087	109	8	problem	problem	NOUN
eistud-1087	109	9	may	may	AUX
eistud-1087	109	10	occur	occur	VERB
eistud-1087	109	11	,	,	PUNCT
eistud-1087	109	12	as	as	SCONJ
eistud-1087	109	13	the	the	DET
eistud-1087	109	14	possibility	possibility	NOUN
eistud-1087	109	15	of	of	ADP
eistud-1087	109	16	dilution	dilution	NOUN
eistud-1087	109	17	tends	tend	VERB
eistud-1087	109	18	to	to	PART
eistud-1087	109	19	raise	raise	VERB
eistud-1087	109	20	interest	interest	NOUN
eistud-1087	109	21	rates	rate	NOUN
eistud-1087	109	22	unnecessarily	unnecessarily	ADV
eistud-1087	109	23	.	.	PUNCT
eistud-1087	110	1	in	in	ADP
eistud-1087	110	2	principle	principle	NOUN
eistud-1087	110	3	,	,	PUNCT
eistud-1087	110	4	debt	debt	NOUN
eistud-1087	110	5	dilution	dilution	NOUN
eistud-1087	110	6	could	could	AUX
eistud-1087	110	7	be	be	AUX
eistud-1087	110	8	ruled	rule	VERB
eistud-1087	110	9	out	out	ADP
eistud-1087	110	10	by	by	ADP
eistud-1087	110	11	an	an	DET
eistud-1087	110	12	explicit	explicit	ADJ
eistud-1087	110	13	,	,	PUNCT
eistud-1087	110	14	“	"	PUNCT
eistud-1087	110	15	first	first	ADJ
eistud-1087	110	16	-	-	PUNCT
eistud-1087	110	17	in	in	ADP
eistud-1087	110	18	-	-	PUNCT
eistud-1087	110	19	time	time	NOUN
eistud-1087	110	20	”	"	PUNCT
eistud-1087	110	21	seniority	seniority	NOUN
eistud-1087	110	22	structure	structure	NOUN
eistud-1087	110	23	giving	give	VERB
eistud-1087	110	24	priority	priority	NOUN
eistud-1087	110	25	to	to	ADP
eistud-1087	110	26	earlier	early	ADJ
eistud-1087	110	27	debt	debt	NOUN
eistud-1087	110	28	issues	issue	NOUN
eistud-1087	110	29	,	,	PUNCT
eistud-1087	110	30	because	because	SCONJ
eistud-1087	110	31	in	in	ADP
eistud-1087	110	32	the	the	DET
eistud-1087	110	33	event	event	NOUN
eistud-1087	110	34	of	of	ADP
eistud-1087	110	35	bankruptcy	bankruptcy	NOUN
eistud-1087	110	36	the	the	DET
eistud-1087	110	37	original	original	ADJ
eistud-1087	110	38	creditors	creditor	NOUN
eistud-1087	110	39	would	would	AUX
eistud-1087	110	40	be	be	AUX
eistud-1087	110	41	repaid	repay	VERB
eistud-1087	110	42	first	first	ADV
eistud-1087	110	43	.	.	PUNCT
eistud-1087	111	1	firstin	firstin	NOUN
eistud-1087	111	2	-	-	PUNCT
eistud-1087	111	3	time	time	NOUN
eistud-1087	111	4	seniority	seniority	NOUN
eistud-1087	111	5	would	would	AUX
eistud-1087	111	6	tend	tend	VERB
eistud-1087	111	7	to	to	PART
eistud-1087	111	8	reduce	reduce	VERB
eistud-1087	111	9	borrowing	borrowing	NOUN
eistud-1087	111	10	costs	cost	NOUN
eistud-1087	111	11	at	at	ADP
eistud-1087	111	12	low	low	ADJ
eistud-1087	111	13	debt	debt	NOUN
eistud-1087	111	14	levels	level	NOUN
eistud-1087	111	15	,	,	PUNCT
eistud-1087	111	16	but	but	CCONJ
eistud-1087	111	17	make	make	VERB
eistud-1087	111	18	borrowing	borrow	VERB
eistud-1087	111	19	more	more	ADV
eistud-1087	111	20	expensive	expensive	ADJ
eistud-1087	111	21	at	at	ADP
eistud-1087	111	22	high	high	ADJ
eistud-1087	111	23	debt	debt	NOUN
eistud-1087	111	24	levels	level	NOUN
eistud-1087	111	25	.	.	PUNCT
eistud-1087	112	1	in	in	ADP
eistud-1087	112	2	fact	fact	NOUN
eistud-1087	112	3	,	,	PUNCT
eistud-1087	112	4	if	if	SCONJ
eistud-1087	112	5	the	the	DET
eistud-1087	112	6	probability	probability	NOUN
eistud-1087	112	7	of	of	ADP
eistud-1087	112	8	a	a	DET
eistud-1087	112	9	debt	debt	NOUN
eistud-1087	112	10	crisis	crisis	NOUN
eistud-1087	112	11	were	be	AUX
eistud-1087	112	12	substantial	substantial	ADJ
eistud-1087	112	13	,	,	PUNCT
eistud-1087	112	14	markets	market	NOUN
eistud-1087	112	15	would	would	AUX
eistud-1087	112	16	expect	expect	VERB
eistud-1087	112	17	a	a	DET
eistud-1087	112	18	new	new	ADJ
eistud-1087	112	19	debt	debt	NOUN
eistud-1087	112	20	issue	issue	NOUN
eistud-1087	112	21	to	to	PART
eistud-1087	112	22	be	be	AUX
eistud-1087	112	23	issn	issn	PROPN
eistud-1087	112	24	1822–8402	1822–8402	NUM
eistud-1087	112	25	european	european	ADJ
eistud-1087	112	26	integration	integration	NOUN
eistud-1087	112	27	studies	study	NOUN
eistud-1087	112	28	.	.	PUNCT
eistud-1087	113	1	2011	2011	NUM
eistud-1087	113	2	.	.	PUNCT
eistud-1087	114	1	no	no	DET
eistud-1087	114	2	5	5	NUM
eistud-1087	114	3	128	128	NUM
eistud-1087	114	4	junior	junior	ADJ
eistud-1087	114	5	to	to	ADP
eistud-1087	114	6	most	most	ADJ
eistud-1087	114	7	outstanding	outstanding	ADJ
eistud-1087	114	8	debt	debt	NOUN
eistud-1087	114	9	in	in	ADP
eistud-1087	114	10	the	the	DET
eistud-1087	114	11	event	event	NOUN
eistud-1087	114	12	of	of	ADP
eistud-1087	114	13	a	a	DET
eistud-1087	114	14	crisis	crisis	NOUN
eistud-1087	114	15	,	,	PUNCT
eistud-1087	114	16	and	and	CCONJ
eistud-1087	114	17	thus	thus	ADV
eistud-1087	114	18	demand	demand	VERB
eistud-1087	114	19	a	a	DET
eistud-1087	114	20	higher	high	ADJ
eistud-1087	114	21	interest	interest	NOUN
eistud-1087	114	22	rate	rate	NOUN
eistud-1087	114	23	compared	compare	VERB
eistud-1087	114	24	to	to	ADP
eistud-1087	114	25	the	the	DET
eistud-1087	114	26	present	present	ADJ
eistud-1087	114	27	system	system	NOUN
eistud-1087	114	28	.	.	PUNCT
eistud-1087	115	1	the	the	DET
eistud-1087	115	2	effect	effect	NOUN
eistud-1087	115	3	on	on	ADP
eistud-1087	115	4	borrowing	borrowing	NOUN
eistud-1087	115	5	costs	cost	NOUN
eistud-1087	115	6	would	would	AUX
eistud-1087	115	7	reward	reward	VERB
eistud-1087	115	8	prudent	prudent	ADJ
eistud-1087	115	9	borrowing	borrowing	NOUN
eistud-1087	115	10	behavior	behavior	NOUN
eistud-1087	115	11	and	and	CCONJ
eistud-1087	115	12	discourage	discourage	VERB
eistud-1087	115	13	over	over	ADP
eistud-1087	115	14	borrowing	borrowing	NOUN
eistud-1087	115	15	.	.	PUNCT
eistud-1087	116	1	explicit	explicit	ADJ
eistud-1087	116	2	seniority	seniority	NOUN
eistud-1087	116	3	could	could	AUX
eistud-1087	116	4	also	also	ADV
eistud-1087	116	5	improve	improve	VERB
eistud-1087	116	6	debt	debt	NOUN
eistud-1087	116	7	structures	structure	NOUN
eistud-1087	116	8	by	by	ADP
eistud-1087	116	9	reducing	reduce	VERB
eistud-1087	116	10	incentives	incentive	NOUN
eistud-1087	116	11	to	to	PART
eistud-1087	116	12	issue	issue	VERB
eistud-1087	116	13	“	"	PUNCT
eistud-1087	116	14	crisis	crisis	NOUN
eistud-1087	116	15	-	-	PUNCT
eistud-1087	116	16	prone	prone	ADJ
eistud-1087	116	17	”	"	PUNCT
eistud-1087	116	18	debt	debt	NOUN
eistud-1087	116	19	forms	form	NOUN
eistud-1087	116	20	that	that	PRON
eistud-1087	116	21	are	be	AUX
eistud-1087	116	22	hard	hard	ADJ
eistud-1087	116	23	to	to	PART
eistud-1087	116	24	dilute	dilute	VERB
eistud-1087	116	25	.	.	PUNCT
eistud-1087	117	1	explicit	explicit	ADJ
eistud-1087	117	2	seniority	seniority	NOUN
eistud-1087	117	3	would	would	AUX
eistud-1087	117	4	also	also	ADV
eistud-1087	117	5	entail	entail	VERB
eistud-1087	117	6	risks	risk	NOUN
eistud-1087	117	7	,	,	PUNCT
eistud-1087	117	8	however	however	ADV
eistud-1087	117	9	.	.	PUNCT
eistud-1087	118	1	in	in	ADP
eistud-1087	118	2	particular	particular	ADJ
eistud-1087	118	3	,	,	PUNCT
eistud-1087	118	4	an	an	DET
eistud-1087	118	5	unavoidable	unavoidable	ADJ
eistud-1087	118	6	consequence	consequence	NOUN
eistud-1087	118	7	of	of	ADP
eistud-1087	118	8	limiting	limit	VERB
eistud-1087	118	9	dilution	dilution	NOUN
eistud-1087	118	10	and	and	CCONJ
eistud-1087	118	11	making	make	VERB
eistud-1087	118	12	new	new	ADJ
eistud-1087	118	13	borrowing	borrowing	NOUN
eistud-1087	118	14	harder	hard	ADV
eistud-1087	118	15	at	at	ADP
eistud-1087	118	16	high	high	ADJ
eistud-1087	118	17	levels	level	NOUN
eistud-1087	118	18	of	of	ADP
eistud-1087	118	19	debt	debt	NOUN
eistud-1087	118	20	is	be	AUX
eistud-1087	118	21	that	that	SCONJ
eistud-1087	118	22	this	this	PRON
eistud-1087	118	23	may	may	AUX
eistud-1087	118	24	prevent	prevent	VERB
eistud-1087	118	25	some	some	DET
eistud-1087	118	26	countries	country	NOUN
eistud-1087	118	27	from	from	ADP
eistud-1087	118	28	accessing	access	VERB
eistud-1087	118	29	debt	debt	NOUN
eistud-1087	118	30	markets	market	NOUN
eistud-1087	118	31	in	in	ADP
eistud-1087	118	32	situations	situation	NOUN
eistud-1087	118	33	of	of	ADP
eistud-1087	118	34	illiquidity	illiquidity	NOUN
eistud-1087	118	35	,	,	PUNCT
eistud-1087	118	36	in	in	ADP
eistud-1087	118	37	turn	turn	NOUN
eistud-1087	118	38	increasing	increase	VERB
eistud-1087	118	39	the	the	DET
eistud-1087	118	40	likelihood	likelihood	NOUN
eistud-1087	118	41	of	of	ADP
eistud-1087	118	42	liquidity	liquidity	NOUN
eistud-1087	118	43	crises	crisis	NOUN
eistud-1087	118	44	.	.	PUNCT
eistud-1087	119	1	another	another	DET
eistud-1087	119	2	potential	potential	ADJ
eistud-1087	119	3	drawback	drawback	NOUN
eistud-1087	119	4	is	be	AUX
eistud-1087	119	5	that	that	SCONJ
eistud-1087	119	6	seniority	seniority	NOUN
eistud-1087	119	7	could	could	AUX
eistud-1087	119	8	complicate	complicate	VERB
eistud-1087	119	9	debt	debt	NOUN
eistud-1087	119	10	pricing	pricing	NOUN
eistud-1087	119	11	and	and	CCONJ
eistud-1087	119	12	,	,	PUNCT
eistud-1087	119	13	as	as	ADP
eistud-1087	119	14	a	a	DET
eistud-1087	119	15	result	result	NOUN
eistud-1087	119	16	,	,	PUNCT
eistud-1087	119	17	make	make	VERB
eistud-1087	119	18	debt	debt	NOUN
eistud-1087	119	19	more	more	ADV
eistud-1087	119	20	expensive	expensive	ADJ
eistud-1087	119	21	(	(	PUNCT
eistud-1087	119	22	at	at	ADP
eistud-1087	119	23	least	least	ADJ
eistud-1087	119	24	until	until	SCONJ
eistud-1087	119	25	markets	market	NOUN
eistud-1087	119	26	became	become	VERB
eistud-1087	119	27	familiar	familiar	ADJ
eistud-1087	119	28	with	with	ADP
eistud-1087	119	29	the	the	DET
eistud-1087	119	30	new	new	ADJ
eistud-1087	119	31	system	system	NOUN
eistud-1087	119	32	)	)	PUNCT
eistud-1087	119	33	.	.	PUNCT
eistud-1087	120	1	uncertainty	uncertainty	NOUN
eistud-1087	120	2	would	would	AUX
eistud-1087	120	3	be	be	AUX
eistud-1087	120	4	increased	increase	VERB
eistud-1087	120	5	by	by	ADP
eistud-1087	120	6	the	the	DET
eistud-1087	120	7	possibility	possibility	NOUN
eistud-1087	120	8	that	that	SCONJ
eistud-1087	120	9	sovereigns	sovereign	NOUN
eistud-1087	120	10	fi	fi	NOUN
eistud-1087	120	11	nd	nd	PRON
eistud-1087	120	12	ways	way	NOUN
eistud-1087	120	13	to	to	PART
eistud-1087	120	14	circumvent	circumvent	VERB
eistud-1087	120	15	seniority	seniority	NOUN
eistud-1087	120	16	when	when	SCONJ
eistud-1087	120	17	their	their	PRON
eistud-1087	120	18	borrowing	borrowing	NOUN
eistud-1087	120	19	levels	level	NOUN
eistud-1087	120	20	are	be	AUX
eistud-1087	120	21	elevated	elevate	VERB
eistud-1087	120	22	,	,	PUNCT
eistud-1087	120	23	for	for	ADP
eistud-1087	120	24	example	example	NOUN
eistud-1087	120	25	,	,	PUNCT
eistud-1087	120	26	by	by	ADP
eistud-1087	120	27	obtaining	obtain	VERB
eistud-1087	120	28	direct	direct	ADJ
eistud-1087	120	29	bank	bank	NOUN
eistud-1087	120	30	loans	loan	NOUN
eistud-1087	120	31	under	under	ADP
eistud-1087	120	32	different	different	ADJ
eistud-1087	120	33	jurisdictions	jurisdiction	NOUN
eistud-1087	120	34	or	or	CCONJ
eistud-1087	120	35	providing	provide	VERB
eistud-1087	120	36	collateral	collateral	NOUN
eistud-1087	120	37	for	for	ADP
eistud-1087	120	38	subsequent	subsequent	ADJ
eistud-1087	120	39	loans	loan	NOUN
eistud-1087	120	40	(	(	PUNCT
eistud-1087	120	41	borensztein	borensztein	ADJ
eistud-1087	120	42	,	,	PUNCT
eistud-1087	120	43	2004	2004	NUM
eistud-1087	120	44	;	;	PUNCT
eistud-1087	120	45	buchheit	buchheit	PROPN
eistud-1087	120	46	,	,	PUNCT
eistud-1087	120	47	gulati	gulati	PROPN
eistud-1087	120	48	,	,	PUNCT
eistud-1087	120	49	1992	1992	NUM
eistud-1087	120	50	;	;	PUNCT
eistud-1087	120	51	detragiache	detragiache	NOUN
eistud-1087	120	52	,	,	PUNCT
eistud-1087	120	53	1994	1994	NUM
eistud-1087	120	54	)	)	PUNCT
eistud-1087	120	55	.	.	PUNCT
eistud-1087	121	1	eu	eu	PROPN
eistud-1087	121	2	sovereign	sovereign	ADJ
eistud-1087	121	3	debt	debt	NOUN
eistud-1087	121	4	crisis	crisis	NOUN
eistud-1087	121	5	ride	ride	VERB
eistud-1087	121	6	out	out	ADV
eistud-1087	121	7	:	:	PUNCT
eistud-1087	121	8	“	"	PUNCT
eistud-1087	121	9	european	european	ADJ
eistud-1087	121	10	bonds	bond	NOUN
eistud-1087	121	11	”	"	PUNCT
eistud-1087	121	12	solution	solution	NOUN
eistud-1087	121	13	recent	recent	ADJ
eistud-1087	121	14	decisions	decision	NOUN
eistud-1087	121	15	by	by	ADP
eistud-1087	121	16	european	european	ADJ
eistud-1087	121	17	fi	fi	NOUN
eistud-1087	121	18	scal	scal	ADJ
eistud-1087	121	19	and	and	CCONJ
eistud-1087	121	20	monetary	monetary	ADJ
eistud-1087	121	21	authorities	authority	NOUN
eistud-1087	121	22	,	,	PUNCT
eistud-1087	121	23	sovereign	sovereign	ADJ
eistud-1087	121	24	debt	debt	NOUN
eistud-1087	121	25	issues	issue	NOUN
eistud-1087	121	26	continue	continue	VERB
eistud-1087	121	27	to	to	PART
eistud-1087	121	28	destroy	destroy	VERB
eistud-1087	121	29	the	the	DET
eistud-1087	121	30	weak	weak	ADJ
eistud-1087	121	31	economic	economic	ADJ
eistud-1087	121	32	recovery	recovery	NOUN
eistud-1087	121	33	.	.	PUNCT
eistud-1087	122	1	strong	strong	ADJ
eistud-1087	122	2	-	-	PUNCT
eistud-1087	122	3	minded	minded	ADJ
eistud-1087	122	4	and	and	CCONJ
eistud-1087	122	5	versatile	versatile	ADJ
eistud-1087	122	6	decisions	decision	NOUN
eistud-1087	122	7	must	must	AUX
eistud-1087	122	8	be	be	AUX
eistud-1087	122	9	formulated	formulate	VERB
eistud-1087	122	10	to	to	ADP
eistud-1087	122	11	global	global	ADJ
eistud-1087	122	12	markets	market	NOUN
eistud-1087	122	13	to	to	PART
eistud-1087	122	14	restore	restore	VERB
eistud-1087	122	15	trust	trust	NOUN
eistud-1087	122	16	in	in	ADP
eistud-1087	122	17	eu	eu	PROPN
eistud-1087	122	18	(	(	PUNCT
eistud-1087	122	19	juncker	juncker	PROPN
eistud-1087	122	20	j.	j.	PROPN
eistud-1087	122	21	c.	c.	PROPN
eistud-1087	122	22	,	,	PUNCT
eistud-1087	122	23	tremonti	tremonti	PROPN
eistud-1087	122	24	,	,	PUNCT
eistud-1087	122	25	2010	2010	NUM
eistud-1087	122	26	;	;	PUNCT
eistud-1087	122	27	imarketnews	imarketnews	NOUN
eistud-1087	122	28	update	update	NOUN
eistud-1087	122	29	,	,	PUNCT
eistud-1087	122	30	2010	2010	NUM
eistud-1087	122	31	)	)	PUNCT
eistud-1087	122	32	.	.	PUNCT
eistud-1087	123	1	the	the	DET
eistud-1087	123	2	italian	italian	ADJ
eistud-1087	123	3	fi	fi	NOUN
eistud-1087	123	4	nance	nance	PROPN
eistud-1087	123	5	minister	minister	PROPN
eistud-1087	123	6	giulio	giulio	PROPN
eistud-1087	123	7	tremonti	tremonti	PROPN
eistud-1087	123	8	and	and	CCONJ
eistud-1087	123	9	luxembourg	luxembourg	PROPN
eistud-1087	123	10	’s	’s	PART
eistud-1087	123	11	prime	prime	PROPN
eistud-1087	123	12	minister	minister	PROPN
eistud-1087	123	13	jean	jean	PROPN
eistud-1087	123	14	-	-	PUNCT
eistud-1087	123	15	claude	claude	PROPN
eistud-1087	123	16	juncker	juncker	PROPN
eistud-1087	123	17	,	,	PUNCT
eistud-1087	123	18	in	in	ADP
eistud-1087	123	19	an	an	DET
eistud-1087	123	20	article	article	NOUN
eistud-1087	123	21	which	which	PRON
eistud-1087	123	22	appeared	appear	VERB
eistud-1087	123	23	in	in	ADP
eistud-1087	123	24	the	the	DET
eistud-1087	123	25	financial	financial	ADJ
eistud-1087	123	26	times	time	NOUN
eistud-1087	123	27	on	on	ADP
eistud-1087	123	28	5	5	NUM
eistud-1087	123	29	december	december	NOUN
eistud-1087	123	30	,	,	PUNCT
eistud-1087	123	31	launched	launch	VERB
eistud-1087	123	32	the	the	DET
eistud-1087	123	33	proposal	proposal	NOUN
eistud-1087	123	34	of	of	ADP
eistud-1087	123	35	establishing	establish	VERB
eistud-1087	123	36	a	a	DET
eistud-1087	123	37	european	european	ADJ
eistud-1087	123	38	debt	debt	NOUN
eistud-1087	123	39	agency	agency	NOUN
eistud-1087	123	40	(	(	PUNCT
eistud-1087	123	41	hereinafter	hereinafter	NOUN
eistud-1087	123	42	–	–	PUNCT
eistud-1087	123	43	eda	eda	PROPN
eistud-1087	123	44	)	)	PUNCT
eistud-1087	123	45	,	,	PUNCT
eistud-1087	123	46	which	which	PRON
eistud-1087	123	47	should	should	AUX
eistud-1087	123	48	replace	replace	VERB
eistud-1087	123	49	the	the	DET
eistud-1087	123	50	european	european	ADJ
eistud-1087	123	51	financial	financial	ADJ
eistud-1087	123	52	stability	stability	NOUN
eistud-1087	123	53	facility	facility	NOUN
eistud-1087	123	54	,	,	PUNCT
eistud-1087	123	55	when	when	SCONJ
eistud-1087	123	56	this	this	PRON
eistud-1087	123	57	expires	expire	VERB
eistud-1087	123	58	in	in	ADP
eistud-1087	123	59	2013	2013	NUM
eistud-1087	123	60	.	.	PUNCT
eistud-1087	124	1	each	each	DET
eistud-1087	124	2	country	country	NOUN
eistud-1087	124	3	through	through	ADP
eistud-1087	124	4	eda	eda	PROPN
eistud-1087	124	5	could	could	AUX
eistud-1087	124	6	issue	issue	VERB
eistud-1087	124	7	“	"	PUNCT
eistud-1087	124	8	european	european	ADJ
eistud-1087	124	9	bonds	bond	NOUN
eistud-1087	124	10	”	"	PUNCT
eistud-1087	124	11	up	up	ADP
eistud-1087	124	12	to	to	PART
eistud-1087	124	13	40	40	NUM
eistud-1087	124	14	%	%	NOUN
eistud-1087	124	15	of	of	ADP
eistud-1087	124	16	gdp	gdp	NOUN
eistud-1087	124	17	–	–	PUNCT
eistud-1087	124	18	thus	thus	ADV
eistud-1087	124	19	well	well	ADV
eistud-1087	124	20	within	within	ADP
eistud-1087	124	21	the	the	DET
eistud-1087	124	22	maastricht	maastricht	PROPN
eistud-1087	124	23	reference	reference	NOUN
eistud-1087	124	24	rate	rate	NOUN
eistud-1087	124	25	of	of	ADP
eistud-1087	124	26	60	60	NUM
eistud-1087	124	27	%	%	NOUN
eistud-1087	124	28	.	.	PUNCT
eistud-1087	125	1	it	it	PRON
eistud-1087	125	2	would	would	AUX
eistud-1087	125	3	create	create	VERB
eistud-1087	125	4	,	,	PUNCT
eistud-1087	125	5	over	over	ADP
eistud-1087	125	6	time	time	NOUN
eistud-1087	125	7	,	,	PUNCT
eistud-1087	125	8	a	a	DET
eistud-1087	125	9	sovereign	sovereign	ADJ
eistud-1087	125	10	bond	bond	NOUN
eistud-1087	125	11	market	market	NOUN
eistud-1087	125	12	of	of	ADP
eistud-1087	125	13	similar	similar	ADJ
eistud-1087	125	14	size	size	NOUN
eistud-1087	125	15	to	to	ADP
eistud-1087	125	16	the	the	DET
eistud-1087	125	17	us	us	PROPN
eistud-1087	125	18	treasury	treasury	NOUN
eistud-1087	125	19	market	market	NOUN
eistud-1087	125	20	.	.	PUNCT
eistud-1087	126	1	as	as	ADP
eistud-1087	126	2	a	a	DET
eistud-1087	126	3	fi	fi	NOUN
eistud-1087	126	4	rst	rst	NOUN
eistud-1087	126	5	step	step	NOUN
eistud-1087	126	6	,	,	PUNCT
eistud-1087	126	7	the	the	DET
eistud-1087	126	8	eda	eda	PROPN
eistud-1087	126	9	would	would	AUX
eistud-1087	126	10	fi	fi	VERB
eistud-1087	126	11	nance	nance	VERB
eistud-1087	126	12	50	50	NUM
eistud-1087	126	13	%	%	NOUN
eistud-1087	126	14	of	of	ADP
eistud-1087	126	15	member	member	NOUN
eistud-1087	126	16	states	state	NOUN
eistud-1087	126	17	’	'	PUNCT
eistud-1087	126	18	debt	debt	NOUN
eistud-1087	126	19	issues	issue	NOUN
eistud-1087	126	20	–	–	PUNCT
eistud-1087	126	21	but	but	CCONJ
eistud-1087	126	22	this	this	PRON
eistud-1087	126	23	can	can	AUX
eistud-1087	126	24	be	be	AUX
eistud-1087	126	25	raised	raise	VERB
eistud-1087	126	26	to	to	ADP
eistud-1087	126	27	100	100	NUM
eistud-1087	126	28	%	%	NOUN
eistud-1087	126	29	during	during	ADP
eistud-1087	126	30	crises	crisis	NOUN
eistud-1087	126	31	(	(	PUNCT
eistud-1087	126	32	fig	fig	NOUN
eistud-1087	126	33	.	.	PUNCT
eistud-1087	127	1	3	3	X
eistud-1087	127	2	)	)	PUNCT
eistud-1087	127	3	(	(	PUNCT
eistud-1087	127	4	eurointeligence	eurointeligence	NOUN
eistud-1087	127	5	,	,	PUNCT
eistud-1087	127	6	2010	2010	NUM
eistud-1087	127	7	)	)	PUNCT
eistud-1087	127	8	.	.	PUNCT
eistud-1087	128	1	figure	figure	VERB
eistud-1087	128	2	3	3	NUM
eistud-1087	128	3	.	.	PUNCT
eistud-1087	129	1	the	the	DET
eistud-1087	129	2	scheme	scheme	NOUN
eistud-1087	129	3	of	of	ADP
eistud-1087	129	4	„	„	PUNCT
eistud-1087	129	5	european	european	ADJ
eistud-1087	129	6	bonds	bond	NOUN
eistud-1087	129	7	“	"	PUNCT
eistud-1087	129	8	operation	operation	NOUN
eistud-1087	129	9	(	(	PUNCT
eistud-1087	129	10	made	make	VERB
eistud-1087	129	11	by	by	ADP
eistud-1087	129	12	authors	author	NOUN
eistud-1087	129	13	)	)	PUNCT
eistud-1087	129	14	the	the	DET
eistud-1087	129	15	recent	recent	ADJ
eistud-1087	129	16	proposal	proposal	NOUN
eistud-1087	129	17	has	have	VERB
eistud-1087	129	18	some	some	DET
eistud-1087	129	19	features	feature	NOUN
eistud-1087	129	20	“	"	PUNCT
eistud-1087	129	21	exchange	exchange	NOUN
eistud-1087	129	22	offers	offer	NOUN
eistud-1087	129	23	”	"	PUNCT
eistud-1087	129	24	.	.	PUNCT
eistud-1087	130	1	the	the	DET
eistud-1087	130	2	main	main	ADJ
eistud-1087	130	3	idea	idea	NOUN
eistud-1087	130	4	is	be	AUX
eistud-1087	130	5	that	that	SCONJ
eistud-1087	130	6	the	the	DET
eistud-1087	130	7	sovereign	sovereign	ADJ
eistud-1087	130	8	debtor	debtor	NOUN
eistud-1087	130	9	,	,	PUNCT
eistud-1087	130	10	threatening	threaten	VERB
eistud-1087	130	11	to	to	ADP
eistud-1087	130	12	default	default	NOUN
eistud-1087	130	13	,	,	PUNCT
eistud-1087	130	14	proposes	propose	VERB
eistud-1087	130	15	to	to	ADP
eistud-1087	130	16	the	the	DET
eistud-1087	130	17	creditors	creditor	NOUN
eistud-1087	130	18	that	that	SCONJ
eistud-1087	130	19	they	they	PRON
eistud-1087	130	20	accept	accept	VERB
eistud-1087	130	21	“	"	PUNCT
eistud-1087	130	22	voluntarily	voluntarily	ADV
eistud-1087	130	23	”	"	PUNCT
eistud-1087	130	24	the	the	DET
eistud-1087	130	25	new	new	ADJ
eistud-1087	130	26	bonds	bond	NOUN
eistud-1087	130	27	in	in	ADP
eistud-1087	130	28	exchange	exchange	NOUN
eistud-1087	130	29	for	for	ADP
eistud-1087	130	30	the	the	DET
eistud-1087	130	31	existing	exist	VERB
eistud-1087	130	32	securities	security	NOUN
eistud-1087	130	33	.	.	PUNCT
eistud-1087	131	1	the	the	DET
eistud-1087	131	2	new	new	ADJ
eistud-1087	131	3	securities	security	NOUN
eistud-1087	131	4	are	be	AUX
eistud-1087	131	5	worth	worth	ADJ
eistud-1087	131	6	less	less	ADV
eistud-1087	131	7	,	,	PUNCT
eistud-1087	131	8	but	but	CCONJ
eistud-1087	131	9	are	be	AUX
eistud-1087	131	10	senior	senior	ADJ
eistud-1087	131	11	relatively	relatively	ADV
eistud-1087	131	12	to	to	ADP
eistud-1087	131	13	the	the	DET
eistud-1087	131	14	old	old	ADJ
eistud-1087	131	15	ones	one	NOUN
eistud-1087	131	16	,	,	PUNCT
eistud-1087	131	17	as	as	SCONJ
eistud-1087	131	18	they	they	PRON
eistud-1087	131	19	are	be	AUX
eistud-1087	131	20	given	give	VERB
eistud-1087	131	21	priority	priority	NOUN
eistud-1087	131	22	in	in	ADP
eistud-1087	131	23	the	the	DET
eistud-1087	131	24	repayments	repayment	NOUN
eistud-1087	131	25	.	.	PUNCT
eistud-1087	132	1	if	if	SCONJ
eistud-1087	132	2	well	well	ADV
eistud-1087	132	3	planned	plan	VERB
eistud-1087	132	4	,	,	PUNCT
eistud-1087	132	5	the	the	DET
eistud-1087	132	6	offer	offer	NOUN
eistud-1087	132	7	may	may	AUX
eistud-1087	132	8	be	be	AUX
eistud-1087	132	9	convenient	convenient	ADJ
eistud-1087	132	10	for	for	ADP
eistud-1087	132	11	creditors	creditor	NOUN
eistud-1087	132	12	,	,	PUNCT
eistud-1087	132	13	who	who	PRON
eistud-1087	132	14	,	,	PUNCT
eistud-1087	132	15	by	by	ADP
eistud-1087	132	16	accepting	accept	VERB
eistud-1087	132	17	it	it	PRON
eistud-1087	132	18	,	,	PUNCT
eistud-1087	132	19	lose	lose	VERB
eistud-1087	132	20	less	less	ADJ
eistud-1087	132	21	than	than	SCONJ
eistud-1087	132	22	they	they	PRON
eistud-1087	132	23	would	would	AUX
eistud-1087	132	24	by	by	ADP
eistud-1087	132	25	refusing	refuse	VERB
eistud-1087	132	26	and	and	CCONJ
eistud-1087	132	27	prompting	prompt	VERB
eistud-1087	132	28	a	a	DET
eistud-1087	132	29	default	default	NOUN
eistud-1087	132	30	.	.	PUNCT
eistud-1087	133	1	the	the	DET
eistud-1087	133	2	offer	offer	NOUN
eistud-1087	133	3	is	be	AUX
eistud-1087	133	4	clearly	clearly	ADV
eistud-1087	133	5	convenient	convenient	ADJ
eistud-1087	133	6	for	for	ADP
eistud-1087	133	7	the	the	DET
eistud-1087	133	8	sovereign	sovereign	ADJ
eistud-1087	133	9	debtor	debtor	NOUN
eistud-1087	133	10	,	,	PUNCT
eistud-1087	133	11	since	since	SCONJ
eistud-1087	133	12	it	it	PRON
eistud-1087	133	13	reduces	reduce	VERB
eistud-1087	133	14	the	the	DET
eistud-1087	133	15	value	value	NOUN
eistud-1087	133	16	of	of	ADP
eistud-1087	133	17	his	his	PRON
eistud-1087	133	18	debt	debt	NOUN
eistud-1087	133	19	and	and	CCONJ
eistud-1087	133	20	allows	allow	VERB
eistud-1087	133	21	him	he	PRON
eistud-1087	133	22	to	to	PART
eistud-1087	133	23	continue	continue	VERB
eistud-1087	133	24	to	to	PART
eistud-1087	133	25	access	access	VERB
eistud-1087	133	26	the	the	DET
eistud-1087	133	27	international	international	ADJ
eistud-1087	133	28	capital	capital	NOUN
eistud-1087	133	29	markets	market	NOUN
eistud-1087	133	30	at	at	ADP
eistud-1087	133	31	reasonable	reasonable	ADJ
eistud-1087	133	32	rates	rate	NOUN
eistud-1087	133	33	.	.	PUNCT
eistud-1087	134	1	this	this	DET
eistud-1087	134	2	procedure	procedure	NOUN
eistud-1087	134	3	,	,	PUNCT
eistud-1087	134	4	however	however	ADV
eistud-1087	134	5	,	,	PUNCT
eistud-1087	134	6	does	do	AUX
eistud-1087	134	7	not	not	PART
eistud-1087	134	8	require	require	VERB
eistud-1087	134	9	an	an	DET
eistud-1087	134	10	international	international	ADJ
eistud-1087	134	11	guarantee	guarantee	NOUN
eistud-1087	134	12	,	,	PUNCT
eistud-1087	134	13	as	as	ADP
eistud-1087	134	14	in	in	ADP
eistud-1087	134	15	the	the	DET
eistud-1087	134	16	case	case	NOUN
eistud-1087	134	17	of	of	ADP
eistud-1087	134	18	the	the	DET
eistud-1087	134	19	eurobonds	eurobond	NOUN
eistud-1087	134	20	.	.	PUNCT
eistud-1087	135	1	more	more	ADV
eistud-1087	135	2	importantly	importantly	ADV
eistud-1087	135	3	,	,	PUNCT
eistud-1087	135	4	the	the	DET
eistud-1087	135	5	conversion	conversion	NOUN
eistud-1087	135	6	of	of	ADP
eistud-1087	135	7	old	old	ADJ
eistud-1087	135	8	into	into	ADP
eistud-1087	135	9	new	new	ADJ
eistud-1087	135	10	debt	debt	NOUN
eistud-1087	135	11	makes	make	VERB
eistud-1087	135	12	sense	sense	NOUN
eistud-1087	135	13	only	only	ADV
eistud-1087	135	14	if	if	SCONJ
eistud-1087	135	15	made	make	VERB
eistud-1087	135	16	as	as	ADV
eistud-1087	135	17	soon	soon	ADV
eistud-1087	135	18	as	as	ADP
eistud-1087	135	19	possible	possible	ADJ
eistud-1087	135	20	,	,	PUNCT
eistud-1087	135	21	i.e.	i.e.	X
eistud-1087	135	22	before	before	ADP
eistud-1087	135	23	default	default	NOUN
eistud-1087	135	24	(	(	PUNCT
eistud-1087	135	25	manasse	manasse	NOUN
eistud-1087	135	26	,	,	PUNCT
eistud-1087	135	27	2010	2010	NUM
eistud-1087	135	28	)	)	PUNCT
eistud-1087	135	29	.	.	PUNCT
eistud-1087	136	1	the	the	DET
eistud-1087	136	2	second	second	ADJ
eistud-1087	136	3	aspect	aspect	NOUN
eistud-1087	136	4	of	of	ADP
eistud-1087	136	5	“	"	PUNCT
eistud-1087	136	6	european	european	ADJ
eistud-1087	136	7	bonds	bond	NOUN
eistud-1087	136	8	”	"	PUNCT
eistud-1087	136	9	is	be	AUX
eistud-1087	136	10	the	the	DET
eistud-1087	136	11	mechanism	mechanism	NOUN
eistud-1087	136	12	of	of	ADP
eistud-1087	136	13	the	the	DET
eistud-1087	136	14	switch	switch	NOUN
eistud-1087	136	15	between	between	ADP
eistud-1087	136	16	national	national	ADJ
eistud-1087	136	17	and	and	CCONJ
eistud-1087	136	18	“	"	PUNCT
eistud-1087	136	19	european	european	ADJ
eistud-1087	136	20	bonds	bond	NOUN
eistud-1087	136	21	”	"	PUNCT
eistud-1087	136	22	.	.	PUNCT
eistud-1087	137	1	this	this	PRON
eistud-1087	137	2	is	be	AUX
eistud-1087	137	3	the	the	DET
eistud-1087	137	4	built	build	VERB
eistud-1087	137	5	-	-	PUNCT
eistud-1087	137	6	in	in	ADP
eistud-1087	137	7	default	default	NOUN
eistud-1087	137	8	mechanism	mechanism	NOUN
eistud-1087	137	9	(	(	PUNCT
eistud-1087	137	10	eurointeligence	eurointeligence	NOUN
eistud-1087	137	11	,	,	PUNCT
eistud-1087	137	12	2010	2010	NUM
eistud-1087	137	13	)	)	PUNCT
eistud-1087	137	14	.	.	PUNCT
eistud-1087	138	1	the	the	DET
eistud-1087	138	2	conversion	conversion	NOUN
eistud-1087	138	3	rate	rate	NOUN
eistud-1087	138	4	would	would	AUX
eistud-1087	138	5	be	be	AUX
eistud-1087	138	6	at	at	ADP
eistud-1087	138	7	par	par	NOUN
eistud-1087	138	8	but	but	CCONJ
eistud-1087	138	9	the	the	DET
eistud-1087	138	10	switch	switch	NOUN
eistud-1087	138	11	would	would	AUX
eistud-1087	138	12	be	be	AUX
eistud-1087	138	13	made	make	VERB
eistud-1087	138	14	through	through	ADP
eistud-1087	138	15	a	a	DET
eistud-1087	138	16	discount	discount	NOUN
eistud-1087	138	17	option	option	NOUN
eistud-1087	138	18	,	,	PUNCT
eistud-1087	138	19	where	where	SCONJ
eistud-1087	138	20	the	the	DET
eistud-1087	138	21	discount	discount	NOUN
eistud-1087	138	22	is	be	AUX
eistud-1087	138	23	likely	likely	ADJ
eistud-1087	138	24	to	to	PART
eistud-1087	138	25	be	be	AUX
eistud-1087	138	26	higher	high	ADJ
eistud-1087	138	27	the	the	PRON
eistud-1087	138	28	more	more	ADV
eistud-1087	138	29	a	a	DET
eistud-1087	138	30	bond	bond	NOUN
eistud-1087	138	31	is	be	AUX
eistud-1087	138	32	undergoing	undergo	VERB
eistud-1087	138	33	market	market	NOUN
eistud-1087	138	34	stress	stress	NOUN
eistud-1087	138	35	.	.	PUNCT
eistud-1087	139	1	knowing	know	VERB
eistud-1087	139	2	in	in	ADP
eistud-1087	139	3	advance	advance	NOUN
eistud-1087	139	4	the	the	DET
eistud-1087	139	5	evolution	evolution	NOUN
eistud-1087	139	6	of	of	ADP
eistud-1087	139	7	such	such	ADJ
eistud-1087	139	8	spreads	spread	NOUN
eistud-1087	139	9	,	,	PUNCT
eistud-1087	139	10	member	member	NOUN
eistud-1087	139	11	states	state	NOUN
eistud-1087	139	12	would	would	AUX
eistud-1087	139	13	have	have	VERB
eistud-1087	139	14	a	a	DET
eistud-1087	139	15	strong	strong	ADJ
eistud-1087	139	16	incentive	incentive	NOUN
eistud-1087	139	17	to	to	PART
eistud-1087	139	18	reduce	reduce	VERB
eistud-1087	139	19	their	their	PRON
eistud-1087	139	20	defi	defi	NOUN
eistud-1087	139	21	cits	cit	NOUN
eistud-1087	139	22	.	.	PUNCT
eistud-1087	140	1	“	"	PUNCT
eistud-1087	140	2	european	european	ADJ
eistud-1087	140	3	bonds	bond	NOUN
eistud-1087	140	4	”	"	PUNCT
eistud-1087	140	5	would	would	AUX
eistud-1087	140	6	halt	halt	VERB
eistud-1087	140	7	the	the	DET
eistud-1087	140	8	disruption	disruption	NOUN
eistud-1087	140	9	of	of	ADP
eistud-1087	140	10	sovereign	sovereign	ADJ
eistud-1087	140	11	bond	bond	NOUN
eistud-1087	140	12	markets	market	NOUN
eistud-1087	140	13	and	and	CCONJ
eistud-1087	140	14	stop	stop	VERB
eistud-1087	140	15	negative	negative	ADJ
eistud-1087	140	16	spillovers	spillover	NOUN
eistud-1087	140	17	across	across	ADP
eistud-1087	140	18	national	national	ADJ
eistud-1087	140	19	markets	market	NOUN
eistud-1087	140	20	(	(	PUNCT
eistud-1087	140	21	juncker	juncker	NOUN
eistud-1087	140	22	,	,	PUNCT
eistud-1087	140	23	tremonti	tremonti	PROPN
eistud-1087	140	24	,	,	PUNCT
eistud-1087	140	25	2010	2010	NUM
eistud-1087	140	26	)	)	PUNCT
eistud-1087	140	27	.	.	PUNCT
eistud-1087	141	1	this	this	PRON
eistud-1087	141	2	would	would	AUX
eistud-1087	141	3	solve	solve	VERB
eistud-1087	141	4	the	the	DET
eistud-1087	141	5	problem	problem	NOUN
eistud-1087	141	6	of	of	ADP
eistud-1087	141	7	low	low	ADJ
eistud-1087	141	8	liquidity	liquidity	NOUN
eistud-1087	141	9	in	in	ADP
eistud-1087	141	10	secondary	secondary	ADJ
eistud-1087	141	11	sovereign	sovereign	ADJ
eistud-1087	141	12	market	market	NOUN
eistud-1087	141	13	,	,	PUNCT
eistud-1087	141	14	because	because	SCONJ
eistud-1087	141	15	during	during	ADP
eistud-1087	141	16	the	the	DET
eistud-1087	141	17	crisis	crisis	NOUN
eistud-1087	141	18	almost	almost	ADV
eistud-1087	141	19	all	all	PRON
eistud-1087	141	20	eu	eu	PROPN
eistud-1087	141	21	sovereign	sovereign	ADJ
eistud-1087	141	22	bonds	bond	NOUN
eistud-1087	141	23	are	be	AUX
eistud-1087	141	24	not	not	PART
eistud-1087	141	25	suffi	suffi	NOUN
eistud-1087	141	26	ciently	ciently	ADJ
eistud-1087	141	27	liquid	liquid	NOUN
eistud-1087	141	28	(	(	PUNCT
eistud-1087	141	29	eurointeligence	eurointeligence	NOUN
eistud-1087	141	30	,	,	PUNCT
eistud-1087	141	31	2010	2010	NUM
eistud-1087	141	32	)	)	PUNCT
eistud-1087	141	33	.	.	PUNCT
eistud-1087	142	1	in	in	ADP
eistud-1087	142	2	the	the	DET
eistud-1087	142	3	absence	absence	NOUN
eistud-1087	142	4	of	of	ADP
eistud-1087	142	5	well	well	ADV
eistud-1087	142	6	-	-	PUNCT
eistud-1087	142	7	functioning	function	VERB
eistud-1087	142	8	secondary	secondary	ADJ
eistud-1087	142	9	markets	market	NOUN
eistud-1087	142	10	,	,	PUNCT
eistud-1087	142	11	investors	investor	NOUN
eistud-1087	142	12	are	be	AUX
eistud-1087	142	13	weary	weary	ADJ
eistud-1087	142	14	of	of	ADP
eistud-1087	142	15	being	be	AUX
eistud-1087	142	16	forced	force	VERB
eistud-1087	142	17	to	to	PART
eistud-1087	142	18	hold	hold	VERB
eistud-1087	142	19	their	their	PRON
eistud-1087	142	20	bonds	bond	NOUN
eistud-1087	142	21	to	to	ADP
eistud-1087	142	22	maturity	maturity	NOUN
eistud-1087	142	23	,	,	PUNCT
eistud-1087	142	24	and	and	CCONJ
eistud-1087	142	25	therefore	therefore	ADV
eistud-1087	142	26	ask	ask	VERB
eistud-1087	142	27	for	for	ADP
eistud-1087	142	28	increasing	increase	VERB
eistud-1087	142	29	prices	price	NOUN
eistud-1087	142	30	when	when	SCONJ
eistud-1087	142	31	underwriting	underwrite	VERB
eistud-1087	142	32	primary	primary	ADJ
eistud-1087	142	33	issuances	issuance	NOUN
eistud-1087	142	34	.	.	PUNCT
eistud-1087	143	1	so	so	ADV
eistud-1087	143	2	far	far	ADV
eistud-1087	143	3	the	the	DET
eistud-1087	143	4	eu	eu	PROPN
eistud-1087	143	5	has	have	AUX
eistud-1087	143	6	addressed	address	VERB
eistud-1087	143	7	this	this	DET
eistud-1087	143	8	problem	problem	NOUN
eistud-1087	143	9	in	in	ADP
eistud-1087	143	10	an	an	DET
eistud-1087	143	11	ad	ad	X
eistud-1087	143	12	hoc	hoc	X
eistud-1087	143	13	fashion	fashion	NOUN
eistud-1087	143	14	,	,	PUNCT
eistud-1087	143	15	issuing	issue	VERB
eistud-1087	143	16	bonds	bond	NOUN
eistud-1087	143	17	on	on	ADP
eistud-1087	143	18	behalf	behalf	NOUN
eistud-1087	143	19	issn	issn	VERB
eistud-1087	143	20	1822–8402	1822–8402	NUM
eistud-1087	143	21	european	european	ADJ
eistud-1087	143	22	integration	integration	NOUN
eistud-1087	143	23	studies	study	NOUN
eistud-1087	143	24	.	.	PUNCT
eistud-1087	144	1	2011	2011	NUM
eistud-1087	144	2	.	.	PUNCT
eistud-1087	145	1	no	no	DET
eistud-1087	145	2	5	5	NUM
eistud-1087	145	3	129	129	NUM
eistud-1087	145	4	of	of	ADP
eistud-1087	145	5	member	member	NOUN
eistud-1087	145	6	states	state	NOUN
eistud-1087	145	7	only	only	ADV
eistud-1087	145	8	when	when	SCONJ
eistud-1087	145	9	their	their	PRON
eistud-1087	145	10	access	access	NOUN
eistud-1087	145	11	has	have	AUX
eistud-1087	145	12	been	be	AUX
eistud-1087	145	13	seriously	seriously	ADV
eistud-1087	145	14	disrupted	disrupt	VERB
eistud-1087	145	15	.	.	PUNCT
eistud-1087	146	1	a	a	DET
eistud-1087	146	2	new	new	ADJ
eistud-1087	146	3	market	market	NOUN
eistud-1087	146	4	would	would	AUX
eistud-1087	146	5	also	also	ADV
eistud-1087	146	6	ensure	ensure	VERB
eistud-1087	146	7	that	that	SCONJ
eistud-1087	146	8	private	private	ADJ
eistud-1087	146	9	bondholders	bondholder	NOUN
eistud-1087	146	10	bore	bear	VERB
eistud-1087	146	11	the	the	DET
eistud-1087	146	12	risk	risk	NOUN
eistud-1087	146	13	and	and	CCONJ
eistud-1087	146	14	responsibility	responsibility	NOUN
eistud-1087	146	15	for	for	ADP
eistud-1087	146	16	their	their	PRON
eistud-1087	146	17	investment	investment	NOUN
eistud-1087	146	18	decisions	decision	NOUN
eistud-1087	146	19	.	.	PUNCT
eistud-1087	147	1	in	in	ADP
eistud-1087	147	2	this	this	DET
eistud-1087	147	3	way	way	NOUN
eistud-1087	147	4	,	,	PUNCT
eistud-1087	147	5	the	the	DET
eistud-1087	147	6	“	"	PUNCT
eistud-1087	147	7	european	european	ADJ
eistud-1087	147	8	bonds	bond	NOUN
eistud-1087	147	9	”	"	PUNCT
eistud-1087	147	10	proposal	proposal	NOUN
eistud-1087	147	11	usefully	usefully	ADV
eistud-1087	147	12	complements	complement	VERB
eistud-1087	147	13	recent	recent	ADJ
eistud-1087	147	14	decisions	decision	NOUN
eistud-1087	147	15	aimed	aim	VERB
eistud-1087	147	16	at	at	ADP
eistud-1087	147	17	providing	provide	VERB
eistud-1087	147	18	clarity	clarity	NOUN
eistud-1087	147	19	about	about	ADP
eistud-1087	147	20	a	a	DET
eistud-1087	147	21	permanent	permanent	ADJ
eistud-1087	147	22	mechanism	mechanism	NOUN
eistud-1087	147	23	to	to	PART
eistud-1087	147	24	deal	deal	VERB
eistud-1087	147	25	with	with	ADP
eistud-1087	147	26	debt	debt	NOUN
eistud-1087	147	27	restructuring	restructuring	NOUN
eistud-1087	147	28	.	.	PUNCT
eistud-1087	148	1	it	it	PRON
eistud-1087	148	2	would	would	AUX
eistud-1087	148	3	help	help	VERB
eistud-1087	148	4	to	to	PART
eistud-1087	148	5	restore	restore	VERB
eistud-1087	148	6	confidence	confidence	NOUN
eistud-1087	148	7	,	,	PUNCT
eistud-1087	148	8	allowing	allow	VERB
eistud-1087	148	9	markets	market	NOUN
eistud-1087	148	10	to	to	PART
eistud-1087	148	11	expose	expose	VERB
eistud-1087	148	12	losses	loss	NOUN
eistud-1087	148	13	and	and	CCONJ
eistud-1087	148	14	ensuring	ensure	VERB
eistud-1087	148	15	market	market	NOUN
eistud-1087	148	16	discipline	discipline	NOUN
eistud-1087	148	17	.	.	PUNCT
eistud-1087	149	1	allowing	allow	VERB
eistud-1087	149	2	investors	investor	NOUN
eistud-1087	149	3	to	to	PART
eistud-1087	149	4	switch	switch	VERB
eistud-1087	149	5	national	national	ADJ
eistud-1087	149	6	bonds	bond	NOUN
eistud-1087	149	7	to	to	ADP
eistud-1087	149	8	“	"	PUNCT
eistud-1087	149	9	european	european	ADJ
eistud-1087	149	10	bonds	bond	NOUN
eistud-1087	149	11	”	"	PUNCT
eistud-1087	149	12	,	,	PUNCT
eistud-1087	149	13	which	which	PRON
eistud-1087	149	14	might	might	AUX
eistud-1087	149	15	enjoy	enjoy	VERB
eistud-1087	149	16	a	a	DET
eistud-1087	149	17	higher	high	ADJ
eistud-1087	149	18	status	status	NOUN
eistud-1087	149	19	as	as	ADP
eistud-1087	149	20	collateral	collateral	NOUN
eistud-1087	149	21	for	for	ADP
eistud-1087	149	22	the	the	DET
eistud-1087	149	23	ecb	ecb	NOUN
eistud-1087	149	24	,	,	PUNCT
eistud-1087	149	25	would	would	AUX
eistud-1087	149	26	help	help	VERB
eistud-1087	149	27	to	to	PART
eistud-1087	149	28	achieve	achieve	VERB
eistud-1087	149	29	this	this	PRON
eistud-1087	149	30	.	.	PUNCT
eistud-1087	150	1	bonds	bond	NOUN
eistud-1087	150	2	of	of	ADP
eistud-1087	150	3	member	member	NOUN
eistud-1087	150	4	states	state	NOUN
eistud-1087	150	5	with	with	ADP
eistud-1087	150	6	weaker	weak	ADJ
eistud-1087	150	7	public	public	ADJ
eistud-1087	150	8	finances	finance	NOUN
eistud-1087	150	9	could	could	AUX
eistud-1087	150	10	be	be	AUX
eistud-1087	150	11	converted	convert	VERB
eistud-1087	150	12	at	at	ADP
eistud-1087	150	13	a	a	DET
eistud-1087	150	14	discount	discount	NOUN
eistud-1087	150	15	,	,	PUNCT
eistud-1087	150	16	implying	imply	VERB
eistud-1087	150	17	that	that	SCONJ
eistud-1087	150	18	banks	bank	NOUN
eistud-1087	150	19	and	and	CCONJ
eistud-1087	150	20	other	other	ADJ
eistud-1087	150	21	private	private	ADJ
eistud-1087	150	22	bondholders	bondholder	NOUN
eistud-1087	150	23	immediately	immediately	ADV
eistud-1087	150	24	incurred	incur	VERB
eistud-1087	150	25	the	the	DET
eistud-1087	150	26	related	related	ADJ
eistud-1087	150	27	losses	loss	NOUN
eistud-1087	150	28	,	,	PUNCT
eistud-1087	150	29	thus	thus	ADV
eistud-1087	150	30	ensuring	ensure	VERB
eistud-1087	150	31	transparency	transparency	NOUN
eistud-1087	150	32	about	about	ADP
eistud-1087	150	33	their	their	PRON
eistud-1087	150	34	solvency	solvency	NOUN
eistud-1087	150	35	and	and	CCONJ
eistud-1087	150	36	capital	capital	NOUN
eistud-1087	150	37	adequacy	adequacy	NOUN
eistud-1087	150	38	.	.	PUNCT
eistud-1087	151	1	a	a	DET
eistud-1087	151	2	“	"	PUNCT
eistud-1087	151	3	european	european	ADJ
eistud-1087	151	4	bonds	bond	NOUN
eistud-1087	151	5	”	"	PUNCT
eistud-1087	151	6	market	market	NOUN
eistud-1087	151	7	would	would	AUX
eistud-1087	151	8	also	also	ADV
eistud-1087	151	9	assist	assist	VERB
eistud-1087	151	10	member	member	NOUN
eistud-1087	151	11	states	state	NOUN
eistud-1087	151	12	in	in	ADP
eistud-1087	151	13	difficulty	difficulty	NOUN
eistud-1087	151	14	,	,	PUNCT
eistud-1087	151	15	without	without	ADP
eistud-1087	151	16	leading	lead	VERB
eistud-1087	151	17	to	to	ADP
eistud-1087	151	18	moral	moral	ADJ
eistud-1087	151	19	hazard	hazard	NOUN
eistud-1087	151	20	.	.	PUNCT
eistud-1087	152	1	governments	government	NOUN
eistud-1087	152	2	would	would	AUX
eistud-1087	152	3	be	be	AUX
eistud-1087	152	4	granted	grant	VERB
eistud-1087	152	5	access	access	NOUN
eistud-1087	152	6	to	to	ADP
eistud-1087	152	7	sufficient	sufficient	ADJ
eistud-1087	152	8	resources	resource	NOUN
eistud-1087	152	9	,	,	PUNCT
eistud-1087	152	10	at	at	ADP
eistud-1087	152	11	the	the	DET
eistud-1087	152	12	eda	eda	PROPN
eistud-1087	152	13	’s	’s	PART
eistud-1087	152	14	interest	interest	NOUN
eistud-1087	152	15	rate	rate	NOUN
eistud-1087	152	16	,	,	PUNCT
eistud-1087	152	17	to	to	PART
eistud-1087	152	18	consolidate	consolidate	VERB
eistud-1087	152	19	public	public	ADJ
eistud-1087	152	20	finances	finance	NOUN
eistud-1087	152	21	without	without	ADP
eistud-1087	152	22	being	be	AUX
eistud-1087	152	23	exposed	expose	VERB
eistud-1087	152	24	to	to	ADP
eistud-1087	152	25	short	short	ADJ
eistud-1087	152	26	-	-	PUNCT
eistud-1087	152	27	term	term	NOUN
eistud-1087	152	28	speculative	speculative	ADJ
eistud-1087	152	29	attacks	attack	NOUN
eistud-1087	152	30	.	.	PUNCT
eistud-1087	153	1	this	this	PRON
eistud-1087	153	2	would	would	AUX
eistud-1087	153	3	require	require	VERB
eistud-1087	153	4	them	they	PRON
eistud-1087	153	5	to	to	PART
eistud-1087	153	6	honour	honour	VERB
eistud-1087	153	7	obligations	obligation	NOUN
eistud-1087	153	8	in	in	ADP
eistud-1087	153	9	full	full	ADJ
eistud-1087	153	10	,	,	PUNCT
eistud-1087	153	11	while	while	SCONJ
eistud-1087	153	12	they	they	PRON
eistud-1087	153	13	would	would	AUX
eistud-1087	153	14	still	still	ADV
eistud-1087	153	15	want	want	VERB
eistud-1087	153	16	to	to	PART
eistud-1087	153	17	avoid	avoid	VERB
eistud-1087	153	18	excessive	excessive	ADJ
eistud-1087	153	19	interest	interest	NOUN
eistud-1087	153	20	rates	rate	NOUN
eistud-1087	153	21	on	on	ADP
eistud-1087	153	22	borrowing	borrowing	NOUN
eistud-1087	153	23	that	that	PRON
eistud-1087	153	24	is	be	AUX
eistud-1087	153	25	not	not	PART
eistud-1087	153	26	covered	cover	VERB
eistud-1087	153	27	via	via	ADP
eistud-1087	153	28	“	"	PUNCT
eistud-1087	153	29	european	european	ADJ
eistud-1087	153	30	bonds	bond	NOUN
eistud-1087	153	31	”	"	PUNCT
eistud-1087	153	32	.	.	PUNCT
eistud-1087	154	1	the	the	DET
eistud-1087	154	2	benefits	benefit	NOUN
eistud-1087	154	3	from	from	ADP
eistud-1087	154	4	cheaper	cheap	ADJ
eistud-1087	154	5	,	,	PUNCT
eistud-1087	154	6	more	more	ADV
eistud-1087	154	7	secure	secure	ADJ
eistud-1087	154	8	funding	funding	NOUN
eistud-1087	154	9	should	should	AUX
eistud-1087	154	10	be	be	AUX
eistud-1087	154	11	considerable	considerable	ADJ
eistud-1087	154	12	.	.	PUNCT
eistud-1087	155	1	a	a	DET
eistud-1087	155	2	liquid	liquid	ADJ
eistud-1087	155	3	global	global	ADJ
eistud-1087	155	4	market	market	NOUN
eistud-1087	155	5	for	for	ADP
eistud-1087	155	6	“	"	PUNCT
eistud-1087	155	7	european	european	ADJ
eistud-1087	155	8	bonds	bond	NOUN
eistud-1087	155	9	”	"	PUNCT
eistud-1087	155	10	would	would	AUX
eistud-1087	155	11	follow	follow	VERB
eistud-1087	155	12	.	.	PUNCT
eistud-1087	156	1	this	this	PRON
eistud-1087	156	2	would	would	AUX
eistud-1087	156	3	not	not	PART
eistud-1087	156	4	only	only	ADV
eistud-1087	156	5	insulate	insulate	VERB
eistud-1087	156	6	countries	country	NOUN
eistud-1087	156	7	from	from	ADP
eistud-1087	156	8	speculation	speculation	NOUN
eistud-1087	156	9	but	but	CCONJ
eistud-1087	156	10	would	would	AUX
eistud-1087	156	11	also	also	ADV
eistud-1087	156	12	help	help	VERB
eistud-1087	156	13	to	to	PART
eistud-1087	156	14	keep	keep	VERB
eistud-1087	156	15	existing	exist	VERB
eistud-1087	156	16	capital	capital	NOUN
eistud-1087	156	17	and	and	CCONJ
eistud-1087	156	18	attract	attract	VERB
eistud-1087	156	19	new	new	ADJ
eistud-1087	156	20	flows	flow	NOUN
eistud-1087	156	21	into	into	ADP
eistud-1087	156	22	europe	europe	PROPN
eistud-1087	156	23	.	.	PUNCT
eistud-1087	157	1	it	it	PRON
eistud-1087	157	2	should	should	AUX
eistud-1087	157	3	also	also	ADV
eistud-1087	157	4	foster	foster	VERB
eistud-1087	157	5	the	the	DET
eistud-1087	157	6	integration	integration	NOUN
eistud-1087	157	7	of	of	ADP
eistud-1087	157	8	european	european	ADJ
eistud-1087	157	9	financial	financial	ADJ
eistud-1087	157	10	markets	market	NOUN
eistud-1087	157	11	,	,	PUNCT
eistud-1087	157	12	favoring	favor	VERB
eistud-1087	157	13	investment	investment	NOUN
eistud-1087	157	14	and	and	CCONJ
eistud-1087	157	15	thus	thus	ADV
eistud-1087	157	16	contributing	contribute	VERB
eistud-1087	157	17	to	to	ADP
eistud-1087	157	18	growth	growth	NOUN
eistud-1087	157	19	.	.	PUNCT
eistud-1087	158	1	ultimately	ultimately	ADV
eistud-1087	158	2	the	the	DET
eistud-1087	158	3	eu	eu	PROPN
eistud-1087	158	4	would	would	AUX
eistud-1087	158	5	benefit	benefit	VERB
eistud-1087	158	6	too	too	ADV
eistud-1087	158	7	.	.	PUNCT
eistud-1087	159	1	profits	profit	NOUN
eistud-1087	159	2	from	from	ADP
eistud-1087	159	3	conversions	conversion	NOUN
eistud-1087	159	4	would	would	AUX
eistud-1087	159	5	accrue	accrue	VERB
eistud-1087	159	6	to	to	ADP
eistud-1087	159	7	the	the	DET
eistud-1087	159	8	eda	eda	PROPN
eistud-1087	159	9	,	,	PUNCT
eistud-1087	159	10	reducing	reduce	VERB
eistud-1087	159	11	effective	effective	ADJ
eistud-1087	159	12	“	"	PUNCT
eistud-1087	159	13	european	european	ADJ
eistud-1087	159	14	bonds	bond	NOUN
eistud-1087	159	15	”	"	PUNCT
eistud-1087	159	16	interest	interest	NOUN
eistud-1087	159	17	rates	rate	NOUN
eistud-1087	159	18	.	.	PUNCT
eistud-1087	160	1	as	as	ADP
eistud-1087	160	2	a	a	DET
eistud-1087	160	3	result	result	NOUN
eistud-1087	160	4	eu	eu	PROPN
eistud-1087	160	5	taxpayers	taxpayer	NOUN
eistud-1087	160	6	,	,	PUNCT
eistud-1087	160	7	and	and	CCONJ
eistud-1087	160	8	those	those	DET
eistud-1087	160	9	member	member	NOUN
eistud-1087	160	10	states	state	NOUN
eistud-1087	160	11	currently	currently	ADV
eistud-1087	160	12	under	under	ADP
eistud-1087	160	13	attack	attack	NOUN
eistud-1087	160	14	,	,	PUNCT
eistud-1087	160	15	would	would	AUX
eistud-1087	160	16	not	not	PART
eistud-1087	160	17	have	have	VERB
eistud-1087	160	18	to	to	PART
eistud-1087	160	19	foot	foot	VERB
eistud-1087	160	20	the	the	DET
eistud-1087	160	21	bill	bill	NOUN
eistud-1087	160	22	.	.	PUNCT
eistud-1087	161	1	all	all	DET
eistud-1087	161	2	these	these	DET
eistud-1087	161	3	benefits	benefit	NOUN
eistud-1087	161	4	could	could	AUX
eistud-1087	161	5	be	be	AUX
eistud-1087	161	6	extended	extend	VERB
eistud-1087	161	7	to	to	ADP
eistud-1087	161	8	member	member	NOUN
eistud-1087	161	9	states	state	NOUN
eistud-1087	161	10	that	that	PRON
eistud-1087	161	11	remain	remain	VERB
eistud-1087	161	12	outside	outside	ADP
eistud-1087	161	13	the	the	DET
eistud-1087	161	14	euro	euro	NOUN
eistud-1087	161	15	zone	zone	NOUN
eistud-1087	161	16	(	(	PUNCT
eistud-1087	161	17	juncker	juncker	NOUN
eistud-1087	161	18	,	,	PUNCT
eistud-1087	161	19	tremonti	tremonti	PROPN
eistud-1087	161	20	,	,	PUNCT
eistud-1087	161	21	2010	2010	NUM
eistud-1087	161	22	)	)	PUNCT
eistud-1087	161	23	.	.	PUNCT
eistud-1087	162	1	from	from	ADP
eistud-1087	162	2	the	the	DET
eistud-1087	162	3	history	history	NOUN
eistud-1087	162	4	point	point	NOUN
eistud-1087	162	5	of	of	ADP
eistud-1087	162	6	view	view	NOUN
eistud-1087	162	7	the	the	DET
eistud-1087	162	8	proposal	proposal	NOUN
eistud-1087	162	9	of	of	ADP
eistud-1087	162	10	giulio	giulio	PROPN
eistud-1087	162	11	tremonti	tremonti	PROPN
eistud-1087	162	12	and	and	CCONJ
eistud-1087	162	13	jean	jean	PROPN
eistud-1087	162	14	-	-	PUNCT
eistud-1087	162	15	claude	claude	PROPN
eistud-1087	162	16	juncker	juncker	NOUN
eistud-1087	162	17	is	be	AUX
eistud-1087	162	18	not	not	PART
eistud-1087	162	19	new	new	ADJ
eistud-1087	162	20	.	.	PUNCT
eistud-1087	163	1	the	the	DET
eistud-1087	163	2	original	original	ADJ
eistud-1087	163	3	one	one	NOUN
eistud-1087	163	4	goes	go	VERB
eistud-1087	163	5	back	back	ADV
eistud-1087	163	6	to	to	ADP
eistud-1087	163	7	jacques	jacques	PROPN
eistud-1087	163	8	delors	delor	NOUN
eistud-1087	163	9	in	in	ADP
eistud-1087	163	10	the	the	DET
eistud-1087	163	11	1980s	1980	NOUN
eistud-1087	163	12	(	(	PUNCT
eistud-1087	163	13	manasse	manasse	NOUN
eistud-1087	163	14	,	,	PUNCT
eistud-1087	163	15	2010	2010	NUM
eistud-1087	163	16	)	)	PUNCT
eistud-1087	163	17	.	.	PUNCT
eistud-1087	164	1	jacques	jacques	PROPN
eistud-1087	164	2	delors	delor	VERB
eistud-1087	164	3	at	at	ADP
eistud-1087	164	4	that	that	DET
eistud-1087	164	5	time	time	NOUN
eistud-1087	164	6	prospective	prospective	ADJ
eistud-1087	164	7	french	french	ADJ
eistud-1087	164	8	minister	minister	NOUN
eistud-1087	164	9	of	of	ADP
eistud-1087	164	10	finances	finance	NOUN
eistud-1087	164	11	proposed	propose	VERB
eistud-1087	164	12	the	the	DET
eistud-1087	164	13	issue	issue	NOUN
eistud-1087	164	14	of	of	ADP
eistud-1087	164	15	“	"	PUNCT
eistud-1087	164	16	union	union	NOUN
eistud-1087	164	17	bonds	bond	NOUN
eistud-1087	164	18	”	"	PUNCT
eistud-1087	164	19	,	,	PUNCT
eistud-1087	164	20	whose	whose	DET
eistud-1087	164	21	repayment	repayment	NOUN
eistud-1087	164	22	would	would	AUX
eistud-1087	164	23	be	be	AUX
eistud-1087	164	24	guaranteed	guarantee	VERB
eistud-1087	164	25	by	by	ADP
eistud-1087	164	26	the	the	DET
eistud-1087	164	27	community	community	NOUN
eistud-1087	164	28	budget	budget	NOUN
eistud-1087	164	29	,	,	PUNCT
eistud-1087	164	30	in	in	ADP
eistud-1087	164	31	addition	addition	NOUN
eistud-1087	164	32	to	to	ADP
eistud-1087	164	33	european	european	ADJ
eistud-1087	164	34	investment	investment	PROPN
eistud-1087	164	35	bank	bank	PROPN
eistud-1087	164	36	loans	loan	NOUN
eistud-1087	164	37	to	to	PART
eistud-1087	164	38	finance	finance	VERB
eistud-1087	164	39	infrastructure	infrastructure	NOUN
eistud-1087	164	40	investments	investment	NOUN
eistud-1087	164	41	in	in	ADP
eistud-1087	164	42	transport	transport	NOUN
eistud-1087	164	43	,	,	PUNCT
eistud-1087	164	44	energy	energy	NOUN
eistud-1087	164	45	and	and	CCONJ
eistud-1087	164	46	telecommunications	telecommunication	NOUN
eistud-1087	164	47	.	.	PUNCT
eistud-1087	165	1	jacques	jacques	PROPN
eistud-1087	165	2	delors	delor	VERB
eistud-1087	165	3	economic	economic	ADJ
eistud-1087	165	4	adviser	adviser	NOUN
eistud-1087	165	5	stuart	stuart	PROPN
eistud-1087	165	6	holland	holland	PROPN
eistud-1087	165	7	,	,	PUNCT
eistud-1087	165	8	has	have	AUX
eistud-1087	165	9	envisaged	envisage	VERB
eistud-1087	165	10	the	the	DET
eistud-1087	165	11	issue	issue	NOUN
eistud-1087	165	12	of	of	ADP
eistud-1087	165	13	union	union	NOUN
eistud-1087	165	14	bonds	bond	NOUN
eistud-1087	165	15	by	by	ADP
eistud-1087	165	16	a	a	DET
eistud-1087	165	17	european	european	ADJ
eistud-1087	165	18	investment	investment	NOUN
eistud-1087	165	19	fund	fund	NOUN
eistud-1087	165	20	as	as	ADP
eistud-1087	165	21	a	a	DET
eistud-1087	165	22	vehicle	vehicle	NOUN
eistud-1087	165	23	for	for	ADP
eistud-1087	165	24	the	the	DET
eistud-1087	165	25	transfer	transfer	NOUN
eistud-1087	165	26	of	of	ADP
eistud-1087	165	27	a	a	DET
eistud-1087	165	28	substantial	substantial	ADJ
eistud-1087	165	29	share	share	NOUN
eistud-1087	165	30	of	of	ADP
eistud-1087	165	31	member	member	NOUN
eistud-1087	165	32	states	state	NOUN
eistud-1087	165	33	’	'	PUNCT
eistud-1087	165	34	national	national	ADJ
eistud-1087	165	35	debt	debt	NOUN
eistud-1087	165	36	to	to	ADP
eistud-1087	165	37	the	the	DET
eistud-1087	165	38	union	union	NOUN
eistud-1087	165	39	.	.	PUNCT
eistud-1087	166	1	after	after	SCONJ
eistud-1087	166	2	such	such	ADJ
eistud-1087	166	3	“	"	PUNCT
eistud-1087	166	4	tranche	tranche	NOUN
eistud-1087	166	5	transfer	transfer	NOUN
eistud-1087	166	6	”	"	PUNCT
eistud-1087	166	7	member	member	NOUN
eistud-1087	166	8	states	state	NOUN
eistud-1087	166	9	would	would	AUX
eistud-1087	166	10	continue	continue	VERB
eistud-1087	166	11	to	to	PART
eistud-1087	166	12	service	service	VERB
eistud-1087	166	13	their	their	PRON
eistud-1087	166	14	share	share	NOUN
eistud-1087	166	15	of	of	ADP
eistud-1087	166	16	their	their	PRON
eistud-1087	166	17	debt	debt	NOUN
eistud-1087	166	18	,	,	PUNCT
eistud-1087	166	19	but	but	CCONJ
eistud-1087	166	20	at	at	ADP
eistud-1087	166	21	a	a	DET
eistud-1087	166	22	lower	low	ADJ
eistud-1087	166	23	interest	interest	NOUN
eistud-1087	166	24	rate	rate	NOUN
eistud-1087	166	25	.	.	PUNCT
eistud-1087	167	1	stuart	stuart	PROPN
eistud-1087	167	2	expected	expect	VERB
eistud-1087	167	3	the	the	DET
eistud-1087	167	4	bonds	bond	NOUN
eistud-1087	167	5	not	not	PART
eistud-1087	167	6	to	to	PART
eistud-1087	167	7	count	count	VERB
eistud-1087	167	8	as	as	ADP
eistud-1087	167	9	debt	debt	NOUN
eistud-1087	167	10	of	of	ADP
eistud-1087	167	11	the	the	DET
eistud-1087	167	12	member	member	NOUN
eistud-1087	167	13	states	state	NOUN
eistud-1087	167	14	,	,	PUNCT
eistud-1087	167	15	by	by	ADP
eistud-1087	167	16	analogy	analogy	NOUN
eistud-1087	167	17	with	with	ADP
eistud-1087	167	18	us	us	PROPN
eistud-1087	167	19	treasury	treasury	NOUN
eistud-1087	167	20	bonds	bond	NOUN
eistud-1087	167	21	,	,	PUNCT
eistud-1087	167	22	but	but	CCONJ
eistud-1087	167	23	because	because	SCONJ
eistud-1087	167	24	member	member	NOUN
eistud-1087	167	25	states	state	NOUN
eistud-1087	167	26	would	would	AUX
eistud-1087	167	27	continue	continue	VERB
eistud-1087	167	28	to	to	PART
eistud-1087	167	29	service	service	VERB
eistud-1087	167	30	them	they	PRON
eistud-1087	167	31	that	that	PRON
eistud-1087	167	32	analogy	analogy	NOUN
eistud-1087	167	33	does	do	AUX
eistud-1087	167	34	not	not	PART
eistud-1087	167	35	hold	hold	VERB
eistud-1087	167	36	.	.	PUNCT
eistud-1087	168	1	actually	actually	ADV
eistud-1087	168	2	the	the	DET
eistud-1087	168	3	initial	initial	ADJ
eistud-1087	168	4	idea	idea	NOUN
eistud-1087	168	5	was	be	AUX
eistud-1087	168	6	intended	intend	VERB
eistud-1087	168	7	to	to	PART
eistud-1087	168	8	provide	provide	VERB
eistud-1087	168	9	a	a	DET
eistud-1087	168	10	new	new	ADJ
eistud-1087	168	11	debt	debt	NOUN
eistud-1087	168	12	instrument	instrument	NOUN
eistud-1087	168	13	for	for	ADP
eistud-1087	168	14	financing	finance	VERB
eistud-1087	168	15	pan	pan	ADJ
eistud-1087	168	16	-	-	ADJ
eistud-1087	168	17	european	european	ADJ
eistud-1087	168	18	infrastructures	infrastructure	NOUN
eistud-1087	168	19	(	(	PUNCT
eistud-1087	168	20	nuti	nuti	PROPN
eistud-1087	168	21	,	,	PUNCT
eistud-1087	168	22	2011	2011	NUM
eistud-1087	168	23	)	)	PUNCT
eistud-1087	168	24	.	.	PUNCT
eistud-1087	169	1	nowadays	nowadays	ADV
eistud-1087	169	2	post	post	ADJ
eistud-1087	169	3	-	-	ADJ
eistud-1087	169	4	financial	financial	ADJ
eistud-1087	169	5	crisis	crisis	NOUN
eistud-1087	169	6	situation	situation	NOUN
eistud-1087	169	7	is	be	AUX
eistud-1087	169	8	different	different	ADJ
eistud-1087	169	9	,	,	PUNCT
eistud-1087	169	10	and	and	CCONJ
eistud-1087	169	11	sovereign	sovereign	ADJ
eistud-1087	169	12	debt	debt	NOUN
eistud-1087	169	13	issues	issue	NOUN
eistud-1087	169	14	have	have	VERB
eistud-1087	169	15	to	to	PART
eistud-1087	169	16	be	be	AUX
eistud-1087	169	17	managed	manage	VERB
eistud-1087	169	18	.	.	PUNCT
eistud-1087	170	1	therefore	therefore	ADV
eistud-1087	170	2	giulio	giulio	PROPN
eistud-1087	170	3	tremonti	tremonti	PROPN
eistud-1087	170	4	and	and	CCONJ
eistud-1087	170	5	jean	jean	PROPN
eistud-1087	170	6	-	-	PUNCT
eistud-1087	170	7	claude	claude	PROPN
eistud-1087	170	8	juncker	juncker	PROPN
eistud-1087	170	9	version	version	NOUN
eistud-1087	170	10	is	be	AUX
eistud-1087	170	11	also	also	ADV
eistud-1087	170	12	different	different	ADJ
eistud-1087	170	13	and	and	CCONJ
eistud-1087	170	14	applied	apply	VERB
eistud-1087	170	15	for	for	ADP
eistud-1087	170	16	today	today	NOUN
eistud-1087	170	17	’s	’s	PART
eistud-1087	170	18	situation	situation	NOUN
eistud-1087	170	19	.	.	PUNCT
eistud-1087	171	1	in	in	ADP
eistud-1087	171	2	their	their	PRON
eistud-1087	171	3	opinion	opinion	NOUN
eistud-1087	171	4	new	new	ADJ
eistud-1087	171	5	european	european	ADJ
eistud-1087	171	6	debt	debt	NOUN
eistud-1087	171	7	instrument	instrument	NOUN
eistud-1087	171	8	should	should	AUX
eistud-1087	171	9	gradually	gradually	ADV
eistud-1087	171	10	replace	replace	VERB
eistud-1087	171	11	national	national	ADJ
eistud-1087	171	12	public	public	ADJ
eistud-1087	171	13	debts	debt	NOUN
eistud-1087	171	14	.	.	PUNCT
eistud-1087	172	1	but	but	CCONJ
eistud-1087	172	2	recently	recently	ADV
eistud-1087	172	3	imf	imf	PROPN
eistud-1087	172	4	is	be	AUX
eistud-1087	172	5	arguing	argue	VERB
eistud-1087	172	6	that	that	SCONJ
eistud-1087	172	7	eu	eu	PROPN
eistud-1087	172	8	should	should	AUX
eistud-1087	172	9	not	not	PART
eistud-1087	172	10	concentrate	concentrate	VERB
eistud-1087	172	11	on	on	ADP
eistud-1087	172	12	individual	individual	ADJ
eistud-1087	172	13	initiatives	initiative	NOUN
eistud-1087	172	14	,	,	PUNCT
eistud-1087	172	15	but	but	CCONJ
eistud-1087	172	16	go	go	VERB
eistud-1087	172	17	for	for	ADP
eistud-1087	172	18	a	a	DET
eistud-1087	172	19	larger	large	ADJ
eistud-1087	172	20	programme	programme	NOUN
eistud-1087	172	21	,	,	PUNCT
eistud-1087	172	22	because	because	SCONJ
eistud-1087	172	23	eu	eu	PROPN
eistud-1087	172	24	economy	economy	NOUN
eistud-1087	172	25	suffers	suffer	VERB
eistud-1087	172	26	from	from	ADP
eistud-1087	172	27	systematic	systematic	ADJ
eistud-1087	172	28	problem	problem	NOUN
eistud-1087	172	29	.	.	PUNCT
eistud-1087	173	1	german	german	ADJ
eistud-1087	173	2	finance	finance	PROPN
eistud-1087	173	3	minister	minister	PROPN
eistud-1087	173	4	wolfgang	wolfgang	PROPN
eistud-1087	173	5	schaeuble	schaeuble	PROPN
eistud-1087	173	6	has	have	AUX
eistud-1087	173	7	told	tell	VERB
eistud-1087	173	8	that	that	SCONJ
eistud-1087	173	9	financial	financial	ADJ
eistud-1087	173	10	markets	market	NOUN
eistud-1087	173	11	are	be	AUX
eistud-1087	173	12	currently	currently	ADV
eistud-1087	173	13	not	not	PART
eistud-1087	173	14	speculating	speculate	VERB
eistud-1087	173	15	against	against	ADP
eistud-1087	173	16	individual	individual	ADJ
eistud-1087	173	17	eu	eu	PROPN
eistud-1087	173	18	countries	country	NOUN
eistud-1087	173	19	but	but	CCONJ
eistud-1087	173	20	rather	rather	ADV
eistud-1087	173	21	doubt	doubt	VERB
eistud-1087	173	22	the	the	DET
eistud-1087	173	23	sustainability	sustainability	NOUN
eistud-1087	173	24	of	of	ADP
eistud-1087	173	25	the	the	DET
eistud-1087	173	26	european	european	PROPN
eistud-1087	173	27	monetary	monetary	PROPN
eistud-1087	173	28	union	union	PROPN
eistud-1087	173	29	as	as	ADP
eistud-1087	173	30	a	a	DET
eistud-1087	173	31	whole	whole	NOUN
eistud-1087	173	32	.	.	PUNCT
eistud-1087	174	1	“	"	PUNCT
eistud-1087	174	2	european	european	ADJ
eistud-1087	174	3	bonds	bond	NOUN
eistud-1087	174	4	”	"	PUNCT
eistud-1087	174	5	:	:	PUNCT
eistud-1087	174	6	a	a	DET
eistud-1087	174	7	part	part	NOUN
eistud-1087	174	8	of	of	ADP
eistud-1087	174	9	systematic	systematic	ADJ
eistud-1087	174	10	viewpoint	viewpoint	NOUN
eistud-1087	174	11	like	like	ADP
eistud-1087	174	12	every	every	DET
eistud-1087	174	13	decision	decision	NOUN
eistud-1087	174	14	this	this	PRON
eistud-1087	174	15	likewise	likewise	ADV
eistud-1087	174	16	has	have	VERB
eistud-1087	174	17	the	the	DET
eistud-1087	174	18	negative	negative	ADJ
eistud-1087	174	19	consequences	consequence	NOUN
eistud-1087	174	20	and	and	CCONJ
eistud-1087	174	21	in	in	ADP
eistud-1087	174	22	this	this	DET
eistud-1087	174	23	case	case	NOUN
eistud-1087	174	24	to	to	ADP
eistud-1087	174	25	the	the	DET
eistud-1087	174	26	countries	country	NOUN
eistud-1087	174	27	,	,	PUNCT
eistud-1087	174	28	which	which	PRON
eistud-1087	174	29	are	be	AUX
eistud-1087	174	30	debt	debt	NOUN
eistud-1087	174	31	-	-	PUNCT
eistud-1087	174	32	disciplined	discipline	VERB
eistud-1087	174	33	(	(	PUNCT
eistud-1087	174	34	eg	eg	PROPN
eistud-1087	174	35	.	.	PUNCT
eistud-1087	174	36	germany	germany	PROPN
eistud-1087	174	37	or	or	CCONJ
eistud-1087	174	38	nordic	nordic	ADJ
eistud-1087	174	39	countries	country	NOUN
eistud-1087	174	40	)	)	PUNCT
eistud-1087	174	41	.	.	PUNCT
eistud-1087	175	1	those	those	DET
eistud-1087	175	2	eu	eu	PROPN
eistud-1087	175	3	countries	country	NOUN
eistud-1087	175	4	which	which	PRON
eistud-1087	175	5	have	have	VERB
eistud-1087	175	6	rational	rational	ADJ
eistud-1087	175	7	debt	debt	NOUN
eistud-1087	175	8	level	level	NOUN
eistud-1087	175	9	often	often	ADV
eistud-1087	175	10	emphasize	emphasize	VERB
eistud-1087	175	11	the	the	DET
eistud-1087	175	12	fiscal	fiscal	ADJ
eistud-1087	175	13	discipline	discipline	NOUN
eistud-1087	175	14	and	and	CCONJ
eistud-1087	175	15	reasonable	reasonable	ADJ
eistud-1087	175	16	social	social	ADJ
eistud-1087	175	17	policy	policy	NOUN
eistud-1087	175	18	,	,	PUNCT
eistud-1087	175	19	which	which	PRON
eistud-1087	175	20	are	be	AUX
eistud-1087	175	21	positions	position	NOUN
eistud-1087	175	22	all	all	DET
eistud-1087	175	23	the	the	DET
eistud-1087	175	24	eu	eu	PROPN
eistud-1087	175	25	countries	country	NOUN
eistud-1087	175	26	must	must	AUX
eistud-1087	175	27	start	start	VERB
eistud-1087	175	28	with	with	ADP
eistud-1087	175	29	(	(	PUNCT
eistud-1087	175	30	eurointeligence	eurointeligence	NOUN
eistud-1087	175	31	,	,	PUNCT
eistud-1087	175	32	2010	2010	NUM
eistud-1087	175	33	)	)	PUNCT
eistud-1087	175	34	.	.	PUNCT
eistud-1087	176	1	despite	despite	SCONJ
eistud-1087	176	2	negatives	negative	NOUN
eistud-1087	176	3	no	no	PRON
eistud-1087	176	4	doubt	doubt	NOUN
eistud-1087	176	5	there	there	PRON
eistud-1087	176	6	are	be	VERB
eistud-1087	176	7	few	few	ADJ
eistud-1087	176	8	important	important	ADJ
eistud-1087	176	9	objectives	objective	NOUN
eistud-1087	176	10	that	that	SCONJ
eistud-1087	176	11	“	"	PUNCT
eistud-1087	176	12	european	european	ADJ
eistud-1087	176	13	bonds	bond	NOUN
eistud-1087	176	14	”	"	PUNCT
eistud-1087	176	15	would	would	AUX
eistud-1087	176	16	achieve	achieve	VERB
eistud-1087	176	17	:	:	PUNCT
eistud-1087	176	18	•	•	NUM
eistud-1087	176	19	creation	creation	NOUN
eistud-1087	176	20	of	of	ADP
eistud-1087	176	21	a	a	DET
eistud-1087	176	22	bond	bond	NOUN
eistud-1087	176	23	market	market	NOUN
eistud-1087	176	24	comparable	comparable	ADJ
eistud-1087	176	25	,	,	PUNCT
eistud-1087	176	26	in	in	ADP
eistud-1087	176	27	size	size	NOUN
eistud-1087	176	28	and	and	CCONJ
eistud-1087	176	29	liquidity	liquidity	NOUN
eistud-1087	176	30	,	,	PUNCT
eistud-1087	176	31	to	to	ADP
eistud-1087	176	32	the	the	DET
eistud-1087	176	33	us	us	PROPN
eistud-1087	176	34	treasury	treasury	PROPN
eistud-1087	176	35	bill	bill	NOUN
eistud-1087	176	36	market	market	NOUN
eistud-1087	176	37	;	;	PUNCT
eistud-1087	176	38	•	•	NUM
eistud-1087	176	39	switch	switch	NOUN
eistud-1087	176	40	would	would	AUX
eistud-1087	176	41	be	be	AUX
eistud-1087	176	42	made	make	VERB
eistud-1087	176	43	through	through	ADP
eistud-1087	176	44	a	a	DET
eistud-1087	176	45	discount	discount	NOUN
eistud-1087	176	46	option	option	NOUN
eistud-1087	176	47	–	–	PUNCT
eistud-1087	176	48	earnings	earning	NOUN
eistud-1087	176	49	for	for	ADP
eistud-1087	176	50	eda	eda	PROPN
eistud-1087	176	51	•	•	NUM
eistud-1087	176	52	termination	termination	NOUN
eistud-1087	176	53	of	of	ADP
eistud-1087	176	54	speculative	speculative	ADJ
eistud-1087	176	55	attacks	attack	NOUN
eistud-1087	176	56	against	against	ADP
eistud-1087	176	57	sovereign	sovereign	ADJ
eistud-1087	176	58	debts	debt	NOUN
eistud-1087	176	59	in	in	ADP
eistud-1087	176	60	the	the	DET
eistud-1087	176	61	euro	euro	NOUN
eistud-1087	176	62	zone	zone	NOUN
eistud-1087	176	63	.	.	PUNCT
eistud-1087	177	1	•	•	NUM
eistud-1087	177	2	avoidance	avoidance	NOUN
eistud-1087	177	3	of	of	ADP
eistud-1087	177	4	excessive	excessive	ADJ
eistud-1087	177	5	interest	interest	NOUN
eistud-1087	177	6	rates	rate	NOUN
eistud-1087	177	7	;	;	PUNCT
eistud-1087	177	8	•	•	NUM
eistud-1087	177	9	governments	government	NOUN
eistud-1087	177	10	would	would	AUX
eistud-1087	177	11	be	be	AUX
eistud-1087	177	12	granted	grant	VERB
eistud-1087	177	13	access	access	NOUN
eistud-1087	177	14	to	to	ADP
eistud-1087	177	15	sufficient	sufficient	ADJ
eistud-1087	177	16	resources	resource	NOUN
eistud-1087	177	17	;	;	PUNCT
eistud-1087	177	18	an	an	DET
eistud-1087	177	19	the	the	DET
eistud-1087	177	20	other	other	ADJ
eistud-1087	177	21	hand	hand	NOUN
eistud-1087	177	22	new	new	ADJ
eistud-1087	177	23	bonds	bond	NOUN
eistud-1087	177	24	would	would	AUX
eistud-1087	177	25	weaken	weaken	VERB
eistud-1087	177	26	the	the	DET
eistud-1087	177	27	market	market	NOUN
eistud-1087	177	28	incentives	incentive	NOUN
eistud-1087	177	29	for	for	ADP
eistud-1087	177	30	fiscal	fiscal	ADJ
eistud-1087	177	31	discipline	discipline	NOUN
eistud-1087	177	32	,	,	PUNCT
eistud-1087	177	33	by	by	ADP
eistud-1087	177	34	allowing	allow	VERB
eistud-1087	177	35	spendthrift	spendthrift	ADJ
eistud-1087	177	36	governments	government	NOUN
eistud-1087	177	37	to	to	PART
eistud-1087	177	38	borrow	borrow	VERB
eistud-1087	177	39	at	at	ADP
eistud-1087	177	40	lower	low	ADJ
eistud-1087	177	41	costs	cost	NOUN
eistud-1087	177	42	,	,	PUNCT
eistud-1087	177	43	and	and	CCONJ
eistud-1087	177	44	would	would	AUX
eistud-1087	177	45	penalize	penalize	VERB
eistud-1087	177	46	virtuous	virtuous	ADJ
eistud-1087	177	47	countries	country	NOUN
eistud-1087	177	48	,	,	PUNCT
eistud-1087	177	49	whose	whose	DET
eistud-1087	177	50	borrowing	borrowing	NOUN
eistud-1087	177	51	costs	cost	NOUN
eistud-1087	177	52	would	would	AUX
eistud-1087	177	53	likely	likely	ADV
eistud-1087	177	54	rise	rise	VERB
eistud-1087	177	55	and	and	CCONJ
eistud-1087	177	56	this	this	PRON
eistud-1087	177	57	is	be	AUX
eistud-1087	177	58	the	the	DET
eistud-1087	177	59	moral	moral	ADJ
eistud-1087	177	60	hazard	hazard	NOUN
eistud-1087	177	61	problem	problem	NOUN
eistud-1087	177	62	.	.	PUNCT
eistud-1087	178	1	the	the	DET
eistud-1087	178	2	opponents	opponent	NOUN
eistud-1087	178	3	of	of	ADP
eistud-1087	178	4	“	"	PUNCT
eistud-1087	178	5	european	european	ADJ
eistud-1087	178	6	bonds	bond	NOUN
eistud-1087	178	7	”	"	PUNCT
eistud-1087	178	8	not	not	PART
eistud-1087	178	9	only	only	ADV
eistud-1087	178	10	mention	mention	VERB
eistud-1087	178	11	negatives	negative	NOUN
eistud-1087	178	12	above	above	ADP
eistud-1087	178	13	:	:	PUNCT
eistud-1087	178	14	•	•	ADP
eistud-1087	178	15	the	the	DET
eistud-1087	178	16	“	"	PUNCT
eistud-1087	178	17	european	european	ADJ
eistud-1087	178	18	bonds	bond	NOUN
eistud-1087	178	19	”	"	PUNCT
eistud-1087	178	20	require	require	VERB
eistud-1087	178	21	a	a	DET
eistud-1087	178	22	fiscal	fiscal	ADJ
eistud-1087	178	23	union	union	NOUN
eistud-1087	178	24	where	where	SCONJ
eistud-1087	178	25	high	high	ADJ
eistud-1087	178	26	debt	debt	NOUN
eistud-1087	178	27	countries	country	NOUN
eistud-1087	178	28	lose	lose	VERB
eistud-1087	178	29	their	their	PRON
eistud-1087	178	30	fiscal	fiscal	ADJ
eistud-1087	178	31	sovereignty	sovereignty	NOUN
eistud-1087	178	32	.	.	PUNCT
eistud-1087	179	1	•	•	NUM
eistud-1087	179	2	recent	recent	ADJ
eistud-1087	179	3	aid	aid	NOUN
eistud-1087	179	4	receivers	receiver	NOUN
eistud-1087	179	5	are	be	AUX
eistud-1087	179	6	actually	actually	ADV
eistud-1087	179	7	overborrowed	overborrowe	VERB
eistud-1087	179	8	and	and	CCONJ
eistud-1087	179	9	are	be	AUX
eistud-1087	179	10	not	not	PART
eistud-1087	179	11	able	able	ADJ
eistud-1087	179	12	to	to	PART
eistud-1087	179	13	serve	serve	VERB
eistud-1087	179	14	present	present	ADJ
eistud-1087	179	15	debt	debt	NOUN
eistud-1087	179	16	;	;	PUNCT
eistud-1087	179	17	•	•	NUM
eistud-1087	179	18	jointly	jointly	ADV
eistud-1087	179	19	guaranteed	guarantee	VERB
eistud-1087	179	20	bonds	bond	NOUN
eistud-1087	179	21	would	would	AUX
eistud-1087	179	22	require	require	VERB
eistud-1087	179	23	“	"	PUNCT
eistud-1087	179	24	fundamental	fundamental	ADJ
eistud-1087	179	25	changes	change	NOUN
eistud-1087	179	26	”	"	PUNCT
eistud-1087	179	27	in	in	ADP
eistud-1087	179	28	european	european	ADJ
eistud-1087	179	29	treaties	treaty	NOUN
eistud-1087	179	30	•	•	ADP
eistud-1087	179	31	virtuous	virtuous	ADJ
eistud-1087	179	32	countries	country	NOUN
eistud-1087	179	33	will	will	AUX
eistud-1087	179	34	be	be	AUX
eistud-1087	179	35	penalized	penalize	VERB
eistud-1087	179	36	and	and	CCONJ
eistud-1087	179	37	forced	force	VERB
eistud-1087	179	38	to	to	PART
eistud-1087	179	39	solve	solve	VERB
eistud-1087	179	40	problems	problem	NOUN
eistud-1087	179	41	of	of	ADP
eistud-1087	179	42	irrational	irrational	ADJ
eistud-1087	179	43	spending	spending	NOUN
eistud-1087	179	44	programs	program	NOUN
eistud-1087	179	45	.	.	PUNCT
eistud-1087	180	1	public	public	ADJ
eistud-1087	180	2	debt	debt	NOUN
eistud-1087	180	3	has	have	VERB
eistud-1087	180	4	a	a	DET
eistud-1087	180	5	positive	positive	ADJ
eistud-1087	180	6	market	market	NOUN
eistud-1087	180	7	value	value	NOUN
eistud-1087	180	8	only	only	ADV
eistud-1087	180	9	if	if	SCONJ
eistud-1087	180	10	those	those	PRON
eistud-1087	180	11	who	who	PRON
eistud-1087	180	12	buy	buy	VERB
eistud-1087	180	13	it	it	PRON
eistud-1087	180	14	believe	believe	VERB
eistud-1087	180	15	that	that	SCONJ
eistud-1087	180	16	the	the	DET
eistud-1087	180	17	state	state	NOUN
eistud-1087	180	18	will	will	AUX
eistud-1087	180	19	be	be	AUX
eistud-1087	180	20	able	able	ADJ
eistud-1087	180	21	to	to	PART
eistud-1087	180	22	repay	repay	VERB
eistud-1087	180	23	it	it	PRON
eistud-1087	180	24	in	in	ADP
eistud-1087	180	25	the	the	DET
eistud-1087	180	26	future	future	NOUN
eistud-1087	180	27	by	by	ADP
eistud-1087	180	28	running	run	VERB
eistud-1087	180	29	budget	budget	NOUN
eistud-1087	180	30	surpluses	surplus	NOUN
eistud-1087	180	31	.	.	PUNCT
eistud-1087	181	1	current	current	ADJ
eistud-1087	181	2	european	european	ADJ
eistud-1087	181	3	budget	budget	NOUN
eistud-1087	181	4	is	be	AUX
eistud-1087	181	5	by	by	ADP
eistud-1087	181	6	no	no	DET
eistud-1087	181	7	means	means	NOUN
eistud-1087	181	8	large	large	ADJ
eistud-1087	181	9	enough	enough	ADV
eistud-1087	181	10	to	to	PART
eistud-1087	181	11	repay	repay	VERB
eistud-1087	181	12	a	a	DET
eistud-1087	181	13	debt	debt	NOUN
eistud-1087	181	14	equal	equal	ADJ
eistud-1087	181	15	to	to	ADP
eistud-1087	181	16	40	40	NUM
eistud-1087	181	17	%	%	NOUN
eistud-1087	181	18	of	of	ADP
eistud-1087	181	19	european	european	PROPN
eistud-1087	181	20	gdp	gdp	PROPN
eistud-1087	181	21	.	.	PUNCT
eistud-1087	182	1	either	either	CCONJ
eistud-1087	182	2	the	the	DET
eistud-1087	182	3	bonds	bond	NOUN
eistud-1087	182	4	will	will	AUX
eistud-1087	182	5	have	have	VERB
eistud-1087	182	6	no	no	DET
eistud-1087	182	7	market	market	NOUN
eistud-1087	182	8	,	,	PUNCT
eistud-1087	182	9	or	or	CCONJ
eistud-1087	182	10	,	,	PUNCT
eistud-1087	182	11	if	if	SCONJ
eistud-1087	182	12	they	they	PRON
eistud-1087	182	13	do	do	VERB
eistud-1087	182	14	,	,	PUNCT
eistud-1087	182	15	it	it	PRON
eistud-1087	182	16	must	must	AUX
eistud-1087	182	17	be	be	AUX
eistud-1087	182	18	because	because	SCONJ
eistud-1087	182	19	investors	investor	NOUN
eistud-1087	182	20	believe	believe	VERB
eistud-1087	182	21	that	that	SCONJ
eistud-1087	182	22	the	the	DET
eistud-1087	182	23	new	new	ADJ
eistud-1087	182	24	bonds	bond	NOUN
eistud-1087	182	25	will	will	AUX
eistud-1087	182	26	be	be	AUX
eistud-1087	182	27	eventually	eventually	ADV
eistud-1087	182	28	reimbursed	reimburse	VERB
eistud-1087	182	29	by	by	ADP
eistud-1087	182	30	the	the	DET
eistud-1087	182	31	budget	budget	NOUN
eistud-1087	182	32	surpluses	surplus	NOUN
eistud-1087	182	33	of	of	ADP
eistud-1087	182	34	virtuous	virtuous	ADJ
eistud-1087	182	35	countries	country	NOUN
eistud-1087	182	36	.	.	PUNCT
eistud-1087	183	1	the	the	DET
eistud-1087	183	2	main	main	ADJ
eistud-1087	183	3	problem	problem	NOUN
eistud-1087	183	4	is	be	AUX
eistud-1087	183	5	that	that	SCONJ
eistud-1087	183	6	those	those	DET
eistud-1087	183	7	countries	country	NOUN
eistud-1087	183	8	are	be	AUX
eistud-1087	183	9	actually	actually	ADV
eistud-1087	183	10	over	over	ADV
eistud-1087	183	11	-	-	PUNCT
eistud-1087	183	12	borrowed	borrow	VERB
eistud-1087	183	13	and	and	CCONJ
eistud-1087	183	14	are	be	AUX
eistud-1087	183	15	not	not	PART
eistud-1087	183	16	able	able	ADJ
eistud-1087	183	17	to	to	PART
eistud-1087	183	18	serve	serve	VERB
eistud-1087	183	19	present	present	ADJ
eistud-1087	183	20	debt	debt	NOUN
eistud-1087	183	21	.	.	PUNCT
eistud-1087	184	1	countries	country	NOUN
eistud-1087	184	2	like	like	ADP
eistud-1087	184	3	greek	greek	PROPN
eistud-1087	184	4	,	,	PUNCT
eistud-1087	184	5	ireland	ireland	PROPN
eistud-1087	184	6	,	,	PUNCT
eistud-1087	184	7	portugal	portugal	PROPN
eistud-1087	184	8	,	,	PUNCT
eistud-1087	184	9	spain	spain	PROPN
eistud-1087	184	10	or	or	CCONJ
eistud-1087	184	11	italy	italy	PROPN
eistud-1087	184	12	a	a	DET
eistud-1087	184	13	decade	decade	NOUN
eistud-1087	184	14	ago	ago	ADV
eistud-1087	184	15	have	have	AUX
eistud-1087	184	16	been	be	AUX
eistud-1087	184	17	implementing	implement	VERB
eistud-1087	184	18	social	social	ADJ
eistud-1087	184	19	spending	spending	NOUN
eistud-1087	184	20	programs	program	NOUN
eistud-1087	184	21	.	.	PUNCT
eistud-1087	185	1	from	from	ADP
eistud-1087	185	2	virtuous	virtuous	ADJ
eistud-1087	185	3	countries	country	NOUN
eistud-1087	185	4	point	point	NOUN
eistud-1087	185	5	of	of	ADP
eistud-1087	185	6	view	view	NOUN
eistud-1087	185	7	those	those	DET
eistud-1087	185	8	countries	country	NOUN
eistud-1087	185	9	could	could	AUX
eistud-1087	185	10	never	never	ADV
eistud-1087	185	11	afford	afford	VERB
eistud-1087	185	12	it	it	PRON
eistud-1087	185	13	.	.	PUNCT
eistud-1087	186	1	consequently	consequently	ADV
eistud-1087	186	2	germany	germany	PROPN
eistud-1087	186	3	,	,	PUNCT
eistud-1087	186	4	france	france	PROPN
eistud-1087	186	5	or	or	CCONJ
eistud-1087	186	6	nordic	nordic	ADJ
eistud-1087	186	7	countries	country	NOUN
eistud-1087	186	8	should	should	AUX
eistud-1087	186	9	not	not	PART
eistud-1087	186	10	pay	pay	VERB
eistud-1087	186	11	high	high	ADJ
eistud-1087	186	12	taxes	taxis	NOUN
eistud-1087	186	13	for	for	ADP
eistud-1087	186	14	financing	finance	VERB
eistud-1087	186	15	the	the	DET
eistud-1087	186	16	sovereign	sovereign	ADJ
eistud-1087	186	17	debt	debt	NOUN
eistud-1087	186	18	solutions	solution	NOUN
eistud-1087	186	19	in	in	ADP
eistud-1087	186	20	european	european	PROPN
eistud-1087	186	21	union	union	PROPN
eistud-1087	186	22	(	(	PUNCT
eistud-1087	186	23	reuters	reuters	PROPN
eistud-1087	186	24	,	,	PUNCT
eistud-1087	186	25	2010	2010	NUM
eistud-1087	186	26	;	;	PUNCT
eistud-1087	186	27	basevi	basevi	NOUN
eistud-1087	186	28	,	,	PUNCT
eistud-1087	186	29	2006	2006	NUM
eistud-1087	186	30	)	)	PUNCT
eistud-1087	186	31	.	.	PUNCT
eistud-1087	187	1	given	give	VERB
eistud-1087	187	2	that	that	SCONJ
eistud-1087	187	3	rates	rate	NOUN
eistud-1087	187	4	on	on	ADP
eistud-1087	187	5	“	"	PUNCT
eistud-1087	187	6	european	european	ADJ
eistud-1087	187	7	bonds	bond	NOUN
eistud-1087	187	8	”	"	PUNCT
eistud-1087	187	9	would	would	AUX
eistud-1087	187	10	reflect	reflect	VERB
eistud-1087	187	11	perceived	perceive	VERB
eistud-1087	187	12	risk	risk	NOUN
eistud-1087	187	13	across	across	ADP
eistud-1087	187	14	the	the	DET
eistud-1087	187	15	entire	entire	ADJ
eistud-1087	187	16	eu	eu	PROPN
eistud-1087	187	17	,	,	PUNCT
eistud-1087	187	18	german	german	ADJ
eistud-1087	187	19	borrowing	borrowing	NOUN
eistud-1087	187	20	costs	cost	NOUN
eistud-1087	187	21	could	could	AUX
eistud-1087	187	22	raise	raise	VERB
eistud-1087	187	23	compared	compare	VERB
eistud-1087	187	24	to	to	ADP
eistud-1087	187	25	existing	exist	VERB
eistud-1087	187	26	benchmark	benchmark	NOUN
eistud-1087	187	27	bunds	bund	NOUN
eistud-1087	187	28	(	(	PUNCT
eistud-1087	187	29	fig	fig	NOUN
eistud-1087	187	30	.	.	PUNCT
eistud-1087	187	31	4	4	NUM
eistud-1087	187	32	)	)	PUNCT
eistud-1087	187	33	.	.	PUNCT
eistud-1087	188	1	issn	issn	PROPN
eistud-1087	188	2	1822–8402	1822–8402	NUM
eistud-1087	188	3	european	european	ADJ
eistud-1087	188	4	integration	integration	NOUN
eistud-1087	188	5	studies	study	NOUN
eistud-1087	188	6	.	.	PUNCT
eistud-1087	189	1	2011	2011	NUM
eistud-1087	189	2	.	.	PUNCT
eistud-1087	190	1	no	no	DET
eistud-1087	190	2	5	5	NUM
eistud-1087	190	3	130	130	NUM
eistud-1087	190	4	figure	figure	NOUN
eistud-1087	190	5	4	4	NUM
eistud-1087	190	6	.	.	PUNCT
eistud-1087	190	7	long	long	ADJ
eistud-1087	190	8	term	term	NOUN
eistud-1087	190	9	government	government	NOUN
eistud-1087	190	10	bond	bond	NOUN
eistud-1087	190	11	yields	yield	NOUN
eistud-1087	190	12	(	(	PUNCT
eistud-1087	190	13	eurostat	eurostat	PROPN
eistud-1087	190	14	,	,	PUNCT
eistud-1087	190	15	2011	2011	NUM
eistud-1087	190	16	)	)	PUNCT
eistud-1087	190	17	therefore	therefore	ADV
eistud-1087	190	18	the	the	DET
eistud-1087	190	19	largest	large	ADJ
eistud-1087	190	20	load	load	NOUN
eistud-1087	190	21	will	will	AUX
eistud-1087	190	22	be	be	AUX
eistud-1087	190	23	imposed	impose	VERB
eistud-1087	190	24	to	to	ADP
eistud-1087	190	25	germany	germany	PROPN
eistud-1087	190	26	.	.	PUNCT
eistud-1087	191	1	it	it	PRON
eistud-1087	191	2	is	be	AUX
eistud-1087	191	3	true	true	ADJ
eistud-1087	191	4	that	that	SCONJ
eistud-1087	191	5	germany	germany	PROPN
eistud-1087	191	6	is	be	AUX
eistud-1087	191	7	the	the	DET
eistud-1087	191	8	main	main	ADJ
eistud-1087	191	9	benefi	benefi	NOUN
eistud-1087	191	10	ciary	ciary	ADJ
eistud-1087	191	11	of	of	ADP
eistud-1087	191	12	the	the	DET
eistud-1087	191	13	euro	euro	NOUN
eistud-1087	191	14	,	,	PUNCT
eistud-1087	191	15	as	as	SCONJ
eistud-1087	191	16	the	the	DET
eistud-1087	191	17	country	country	NOUN
eistud-1087	191	18	’s	’s	PART
eistud-1087	191	19	export	export	NOUN
eistud-1087	191	20	industry	industry	NOUN
eistud-1087	191	21	benefi	benefi	PROPN
eistud-1087	191	22	ts	ts	ADP
eistud-1087	191	23	from	from	ADP
eistud-1087	191	24	germany	germany	PROPN
eistud-1087	191	25	’s	’s	PART
eistud-1087	191	26	real	real	ADJ
eistud-1087	191	27	devaluation	devaluation	NOUN
eistud-1087	191	28	.	.	PUNCT
eistud-1087	192	1	the	the	DET
eistud-1087	192	2	argument	argument	NOUN
eistud-1087	192	3	against	against	ADP
eistud-1087	192	4	this	this	PRON
eistud-1087	192	5	is	be	AUX
eistud-1087	192	6	that	that	SCONJ
eistud-1087	192	7	germany	germany	PROPN
eistud-1087	192	8	’s	’s	PART
eistud-1087	192	9	export	export	NOUN
eistud-1087	192	10	surplus	surplus	NOUN
eistud-1087	192	11	has	have	AUX
eistud-1087	192	12	increased	increase	VERB
eistud-1087	192	13	substantially	substantially	ADV
eistud-1087	192	14	against	against	ADP
eistud-1087	192	15	noneuro	noneuro	NOUN
eistud-1087	192	16	zone	zone	NOUN
eistud-1087	192	17	countries	country	NOUN
eistud-1087	192	18	,	,	PUNCT
eistud-1087	192	19	and	and	CCONJ
eistud-1087	192	20	germany	germany	PROPN
eistud-1087	192	21	was	be	AUX
eistud-1087	192	22	a	a	DET
eistud-1087	192	23	stronger	strong	ADJ
eistud-1087	192	24	exporter	exporter	NOUN
eistud-1087	192	25	long	long	ADV
eistud-1087	192	26	before	before	ADP
eistud-1087	192	27	the	the	DET
eistud-1087	192	28	introduction	introduction	NOUN
eistud-1087	192	29	of	of	ADP
eistud-1087	192	30	the	the	DET
eistud-1087	192	31	euro	euro	NOUN
eistud-1087	192	32	.	.	PUNCT
eistud-1087	193	1	the	the	DET
eistud-1087	193	2	examples	example	NOUN
eistud-1087	193	3	of	of	ADP
eistud-1087	193	4	sweden	sweden	PROPN
eistud-1087	193	5	and	and	CCONJ
eistud-1087	193	6	switzerland	switzerland	PROPN
eistud-1087	193	7	show	show	VERB
eistud-1087	193	8	that	that	SCONJ
eistud-1087	193	9	it	it	PRON
eistud-1087	193	10	is	be	AUX
eistud-1087	193	11	possible	possible	ADJ
eistud-1087	193	12	to	to	PART
eistud-1087	193	13	maintain	maintain	VERB
eistud-1087	193	14	a	a	DET
eistud-1087	193	15	high	high	ADJ
eistud-1087	193	16	level	level	NOUN
eistud-1087	193	17	of	of	ADP
eistud-1087	193	18	economic	economic	ADJ
eistud-1087	193	19	strength	strength	NOUN
eistud-1087	193	20	outside	outside	ADP
eistud-1087	193	21	the	the	DET
eistud-1087	193	22	euro	euro	PROPN
eistud-1087	193	23	zone	zone	NOUN
eistud-1087	193	24	.	.	PUNCT
eistud-1087	194	1	the	the	DET
eistud-1087	194	2	problem	problem	NOUN
eistud-1087	194	3	with	with	ADP
eistud-1087	194	4	the	the	DET
eistud-1087	194	5	euro	euro	PROPN
eistud-1087	194	6	zone	zone	NOUN
eistud-1087	194	7	is	be	AUX
eistud-1087	194	8	still	still	ADV
eistud-1087	194	9	insuffi	insuffi	PROPN
eistud-1087	194	10	cient	cient	PROPN
eistud-1087	194	11	fl	fl	PRON
eistud-1087	194	12	exibility	exibility	NOUN
eistud-1087	194	13	and	and	CCONJ
eistud-1087	194	14	factor	factor	NOUN
eistud-1087	194	15	mobility	mobility	NOUN
eistud-1087	194	16	.	.	PUNCT
eistud-1087	195	1	all	all	PRON
eistud-1087	195	2	in	in	ADP
eistud-1087	195	3	all	all	PRON
eistud-1087	195	4	if	if	SCONJ
eistud-1087	195	5	the	the	DET
eistud-1087	195	6	virtuous	virtuous	ADJ
eistud-1087	195	7	countries	country	NOUN
eistud-1087	195	8	taxpayers	taxpayer	NOUN
eistud-1087	195	9	have	have	VERB
eistud-1087	195	10	to	to	PART
eistud-1087	195	11	step	step	VERB
eistud-1087	195	12	each	each	DET
eistud-1087	195	13	time	time	NOUN
eistud-1087	195	14	after	after	ADP
eistud-1087	195	15	a	a	DET
eistud-1087	195	16	sovereign	sovereign	ADJ
eistud-1087	195	17	crisis	crisis	NOUN
eistud-1087	195	18	,	,	PUNCT
eistud-1087	195	19	it	it	PRON
eistud-1087	195	20	will	will	AUX
eistud-1087	195	21	become	become	VERB
eistud-1087	195	22	increasingly	increasingly	ADV
eistud-1087	195	23	diffi	diffi	ADJ
eistud-1087	195	24	cult	cult	NOUN
eistud-1087	195	25	to	to	PART
eistud-1087	195	26	persuade	persuade	VERB
eistud-1087	195	27	the	the	DET
eistud-1087	195	28	virtuous	virtuous	ADJ
eistud-1087	195	29	countries	country	NOUN
eistud-1087	195	30	like	like	ADP
eistud-1087	195	31	german	german	ADJ
eistud-1087	195	32	,	,	PUNCT
eistud-1087	195	33	nordic	nordic	ADJ
eistud-1087	195	34	countries	country	NOUN
eistud-1087	195	35	to	to	PART
eistud-1087	195	36	trust	trust	VERB
eistud-1087	195	37	euro	euro	PROPN
eistud-1087	195	38	as	as	ADP
eistud-1087	195	39	welfare	welfare	NOUN
eistud-1087	195	40	guaranty	guaranty	NOUN
eistud-1087	195	41	for	for	ADP
eistud-1087	195	42	the	the	DET
eistud-1087	195	43	economy	economy	NOUN
eistud-1087	195	44	.	.	PUNCT
eistud-1087	196	1	financial	financial	ADJ
eistud-1087	196	2	times	times	PROPN
eistud-1087	196	3	associate	associate	PROPN
eistud-1087	196	4	editor	editor	NOUN
eistud-1087	196	5	wolfgang	wolfgang	PROPN
eistud-1087	196	6	munchau	munchau	PROPN
eistud-1087	196	7	recently	recently	ADV
eistud-1087	196	8	analyzed	analyze	VERB
eistud-1087	196	9	recent	recent	ADJ
eistud-1087	196	10	proposals	proposal	NOUN
eistud-1087	196	11	and	and	CCONJ
eistud-1087	196	12	attempts	attempt	NOUN
eistud-1087	196	13	to	to	PART
eistud-1087	196	14	fi	fi	VERB
eistud-1087	196	15	nd	nd	INTJ
eistud-1087	196	16	the	the	DET
eistud-1087	196	17	universal	universal	ADJ
eistud-1087	196	18	decisions	decision	NOUN
eistud-1087	196	19	.	.	PUNCT
eistud-1087	197	1	in	in	ADP
eistud-1087	197	2	his	his	PRON
eistud-1087	197	3	point	point	NOUN
eistud-1087	197	4	of	of	ADP
eistud-1087	197	5	view	view	NOUN
eistud-1087	197	6	the	the	DET
eistud-1087	197	7	sovereign	sovereign	ADJ
eistud-1087	197	8	debt	debt	NOUN
eistud-1087	197	9	crisis	crisis	NOUN
eistud-1087	197	10	is	be	AUX
eistud-1087	197	11	a	a	DET
eistud-1087	197	12	systematic	systematic	ADJ
eistud-1087	197	13	problem	problem	NOUN
eistud-1087	197	14	.	.	PUNCT
eistud-1087	198	1	he	he	PRON
eistud-1087	198	2	also	also	ADV
eistud-1087	198	3	accentuates	accentuate	VERB
eistud-1087	198	4	the	the	DET
eistud-1087	198	5	eu	eu	PROPN
eistud-1087	198	6	inability	inability	NOUN
eistud-1087	198	7	to	to	PART
eistud-1087	198	8	cope	cope	VERB
eistud-1087	198	9	,	,	PUNCT
eistud-1087	198	10	and	and	CCONJ
eistud-1087	198	11	this	this	DET
eistud-1087	198	12	moment	moment	NOUN
eistud-1087	198	13	has	have	VERB
eistud-1087	198	14	a	a	DET
eistud-1087	198	15	few	few	ADJ
eistud-1087	198	16	dimensions	dimension	NOUN
eistud-1087	198	17	:	:	PUNCT
eistud-1087	198	18	•	•	NUM
eistud-1087	198	19	replay	replay	NOUN
eistud-1087	198	20	of	of	ADP
eistud-1087	198	21	mistakes	mistake	NOUN
eistud-1087	198	22	–	–	PUNCT
eistud-1087	198	23	the	the	DET
eistud-1087	198	24	totally	totally	ADV
eistud-1087	198	25	wrong	wrong	ADJ
eistud-1087	198	26	decision	decision	NOUN
eistud-1087	198	27	is	be	AUX
eistud-1087	198	28	solvency	solvency	NOUN
eistud-1087	198	29	of	of	ADP
eistud-1087	198	30	crisis	crisis	NOUN
eistud-1087	198	31	through	through	ADP
eistud-1087	198	32	liquidity	liquidity	NOUN
eistud-1087	198	33	policies	policy	NOUN
eistud-1087	198	34	.	.	PUNCT
eistud-1087	199	1	during	during	ADP
eistud-1087	199	2	sovereign	sovereign	ADJ
eistud-1087	199	3	crisis	crisis	NOUN
eistud-1087	199	4	ecb	ecb	NOUN
eistud-1087	199	5	provided	provide	VERB
eistud-1087	199	6	almost	almost	ADV
eistud-1087	199	7	unlimited	unlimited	ADJ
eistud-1087	199	8	funding	funding	NOUN
eistud-1087	199	9	,	,	PUNCT
eistud-1087	199	10	bank	bank	NOUN
eistud-1087	199	11	guarantees	guarantee	NOUN
eistud-1087	199	12	,	,	PUNCT
eistud-1087	199	13	and	and	CCONJ
eistud-1087	199	14	the	the	DET
eistud-1087	199	15	efsf	efsf	PROPN
eistud-1087	199	16	;	;	PUNCT
eistud-1087	199	17	•	•	NUM
eistud-1087	199	18	lack	lack	NOUN
eistud-1087	199	19	of	of	ADP
eistud-1087	199	20	co	co	NOUN
eistud-1087	199	21	-	-	NOUN
eistud-1087	199	22	ordination	ordination	NOUN
eistud-1087	199	23	;	;	PUNCT
eistud-1087	199	24	•	•	NUM
eistud-1087	199	25	breakdown	breakdown	NOUN
eistud-1087	199	26	of	of	ADP
eistud-1087	199	27	communication	communication	NOUN
eistud-1087	199	28	among	among	ADP
eistud-1087	199	29	eu	eu	PROPN
eistud-1087	199	30	countries	country	NOUN
eistud-1087	199	31	and	and	CCONJ
eistud-1087	199	32	institutions	institution	NOUN
eistud-1087	199	33	;	;	PUNCT
eistud-1087	199	34	•	•	ADP
eistud-1087	199	35	blaming	blame	VERB
eistud-1087	199	36	fi	fi	NOUN
eistud-1087	199	37	nancial	nancial	ADJ
eistud-1087	199	38	markets	market	NOUN
eistud-1087	199	39	;	;	PUNCT
eistud-1087	199	40	•	•	ADP
eistud-1087	199	41	blaming	blaming	NOUN
eistud-1087	199	42	of	of	ADP
eistud-1087	199	43	each	each	DET
eistud-1087	199	44	other	other	ADJ
eistud-1087	199	45	among	among	ADP
eistud-1087	199	46	eu	eu	PROPN
eistud-1087	199	47	leaders	leader	NOUN
eistud-1087	199	48	;	;	PUNCT
eistud-1087	199	49	•	•	NUM
eistud-1087	199	50	consistent	consistent	ADJ
eistud-1087	199	51	requirement	requirement	NOUN
eistud-1087	199	52	to	to	ADP
eistud-1087	199	53	the	the	DET
eistud-1087	199	54	ecb	ecb	NOUN
eistud-1087	199	55	to	to	ADP
eistud-1087	199	56	fi	fi	NOUN
eistud-1087	199	57	x	x	NOUN
eistud-1087	199	58	consequences	consequence	NOUN
eistud-1087	199	59	of	of	ADP
eistud-1087	199	60	implementation	implementation	NOUN
eistud-1087	199	61	of	of	ADP
eistud-1087	199	62	irresponsible	irresponsible	ADJ
eistud-1087	199	63	fi	fi	NOUN
eistud-1087	199	64	scal	scal	ADJ
eistud-1087	199	65	and	and	CCONJ
eistud-1087	199	66	economical	economical	ADJ
eistud-1087	199	67	policy	policy	NOUN
eistud-1087	199	68	(	(	PUNCT
eistud-1087	199	69	eurointeligence	eurointeligence	NOUN
eistud-1087	199	70	,	,	PUNCT
eistud-1087	199	71	2010	2010	NUM
eistud-1087	199	72	;	;	PUNCT
eistud-1087	199	73	monti	monti	PROPN
eistud-1087	199	74	,	,	PUNCT
eistud-1087	199	75	2010	2010	NUM
eistud-1087	199	76	;	;	PUNCT
eistud-1087	199	77	european	european	PROPN
eistud-1087	199	78	council	council	PROPN
eistud-1087	199	79	24/25	24/25	NUM
eistud-1087	199	80	march	march	NOUN
eistud-1087	199	81	,	,	PUNCT
eistud-1087	199	82	2011	2011	NUM
eistud-1087	199	83	)	)	PUNCT
eistud-1087	199	84	.	.	PUNCT
eistud-1087	200	1	giulio	giulio	PROPN
eistud-1087	200	2	tremonti	tremonti	PROPN
eistud-1087	200	3	and	and	CCONJ
eistud-1087	200	4	jean	jean	PROPN
eistud-1087	200	5	-	-	PUNCT
eistud-1087	200	6	claude	claude	PROPN
eistud-1087	200	7	juncker	juncker	PROPN
eistud-1087	200	8	have	have	AUX
eistud-1087	200	9	noticed	notice	VERB
eistud-1087	200	10	that	that	SCONJ
eistud-1087	200	11	if	if	SCONJ
eistud-1087	200	12	europe	europe	PROPN
eistud-1087	200	13	formulates	formulate	VERB
eistud-1087	200	14	a	a	DET
eistud-1087	200	15	strong	strong	ADJ
eistud-1087	200	16	and	and	CCONJ
eistud-1087	200	17	systemic	systemic	ADJ
eistud-1087	200	18	response	response	NOUN
eistud-1087	200	19	to	to	ADP
eistud-1087	200	20	the	the	DET
eistud-1087	200	21	euro	euro	NOUN
eistud-1087	200	22	zone	zone	NOUN
eistud-1087	200	23	debt	debt	NOUN
eistud-1087	200	24	crisis	crisis	NOUN
eistud-1087	200	25	,	,	PUNCT
eistud-1087	200	26	than	than	SCONJ
eistud-1087	200	27	a	a	DET
eistud-1087	200	28	clear	clear	ADJ
eistud-1087	200	29	message	message	NOUN
eistud-1087	200	30	would	would	AUX
eistud-1087	200	31	be	be	AUX
eistud-1087	200	32	sent	send	VERB
eistud-1087	200	33	to	to	ADP
eistud-1087	200	34	global	global	ADJ
eistud-1087	200	35	markets	market	NOUN
eistud-1087	200	36	and	and	CCONJ
eistud-1087	200	37	european	european	ADJ
eistud-1087	200	38	citizens	citizen	NOUN
eistud-1087	200	39	of	of	ADP
eistud-1087	200	40	its	its	PRON
eistud-1087	200	41	political	political	ADJ
eistud-1087	200	42	commitment	commitment	NOUN
eistud-1087	200	43	to	to	ADP
eistud-1087	200	44	economic	economic	ADJ
eistud-1087	200	45	and	and	CCONJ
eistud-1087	200	46	monetary	monetary	ADJ
eistud-1087	200	47	union	union	NOUN
eistud-1087	200	48	.	.	PUNCT
eistud-1087	201	1	thereby	thereby	ADV
eistud-1087	201	2	eu	eu	PROPN
eistud-1087	201	3	needs	need	VERB
eistud-1087	201	4	the	the	DET
eistud-1087	201	5	systematic	systematic	ADJ
eistud-1087	201	6	approach	approach	NOUN
eistud-1087	201	7	and	and	CCONJ
eistud-1087	201	8	attempts	attempt	NOUN
eistud-1087	201	9	to	to	PART
eistud-1087	201	10	fi	fi	VERB
eistud-1087	201	11	nd	nd	CCONJ
eistud-1087	201	12	systematic	systematic	ADJ
eistud-1087	201	13	response	response	NOUN
eistud-1087	201	14	to	to	PART
eistud-1087	201	15	current	current	VERB
eistud-1087	201	16	eu	eu	PROPN
eistud-1087	201	17	sovereign	sovereign	ADJ
eistud-1087	201	18	debt	debt	NOUN
eistud-1087	201	19	crisis	crisis	NOUN
eistud-1087	201	20	.	.	PUNCT
eistud-1087	202	1	conclusions	conclusion	NOUN
eistud-1087	202	2	giulio	giulio	PROPN
eistud-1087	202	3	tremonti	tremonti	PROPN
eistud-1087	202	4	’s	’s	PART
eistud-1087	202	5	and	and	CCONJ
eistud-1087	202	6	jean	jean	PROPN
eistud-1087	202	7	-	-	PUNCT
eistud-1087	202	8	claude	claude	PROPN
eistud-1087	202	9	juncker	juncker	PROPN
eistud-1087	202	10	’s	’s	PART
eistud-1087	202	11	proposal	proposal	NOUN
eistud-1087	202	12	is	be	AUX
eistud-1087	202	13	probably	probably	ADV
eistud-1087	202	14	the	the	DET
eistud-1087	202	15	single	single	ADJ
eistud-1087	202	16	most	most	ADV
eistud-1087	202	17	important	important	ADJ
eistud-1087	202	18	proposal	proposal	NOUN
eistud-1087	202	19	ever	ever	ADV
eistud-1087	202	20	made	make	VERB
eistud-1087	202	21	since	since	SCONJ
eistud-1087	202	22	the	the	DET
eistud-1087	202	23	outbreak	outbreak	NOUN
eistud-1087	202	24	of	of	ADP
eistud-1087	202	25	the	the	DET
eistud-1087	202	26	european	european	ADJ
eistud-1087	202	27	sovereign	sovereign	ADJ
eistud-1087	202	28	debt	debt	NOUN
eistud-1087	202	29	crisis	crisis	NOUN
eistud-1087	202	30	.	.	PUNCT
eistud-1087	203	1	the	the	DET
eistud-1087	203	2	scheme	scheme	NOUN
eistud-1087	203	3	for	for	ADP
eistud-1087	203	4	a	a	DET
eistud-1087	203	5	single	single	ADJ
eistud-1087	203	6	“	"	PUNCT
eistud-1087	203	7	european	european	ADJ
eistud-1087	203	8	bonds	bond	NOUN
eistud-1087	203	9	”	"	PUNCT
eistud-1087	203	10	comes	come	VERB
eistud-1087	203	11	in	in	ADP
eistud-1087	203	12	different	different	ADJ
eistud-1087	203	13	sizes	size	NOUN
eistud-1087	203	14	and	and	CCONJ
eistud-1087	203	15	forms	form	NOUN
eistud-1087	203	16	,	,	PUNCT
eistud-1087	203	17	but	but	CCONJ
eistud-1087	203	18	all	all	DET
eistud-1087	203	19	proposals	proposal	NOUN
eistud-1087	203	20	have	have	VERB
eistud-1087	203	21	an	an	DET
eistud-1087	203	22	underlying	underlying	ADJ
eistud-1087	203	23	consideration	consideration	NOUN
eistud-1087	203	24	in	in	ADP
eistud-1087	203	25	common	common	ADJ
eistud-1087	203	26	:	:	PUNCT
eistud-1087	203	27	a	a	DET
eistud-1087	203	28	“	"	PUNCT
eistud-1087	203	29	european	european	ADJ
eistud-1087	203	30	bonds	bond	NOUN
eistud-1087	203	31	”	"	PUNCT
eistud-1087	203	32	would	would	AUX
eistud-1087	203	33	attract	attract	VERB
eistud-1087	203	34	a	a	DET
eistud-1087	203	35	lower	low	ADJ
eistud-1087	203	36	interest	interest	NOUN
eistud-1087	203	37	rate	rate	NOUN
eistud-1087	203	38	than	than	ADP
eistud-1087	203	39	the	the	DET
eistud-1087	203	40	average	average	NOUN
eistud-1087	203	41	(	(	PUNCT
eistud-1087	203	42	weighted	weighted	ADJ
eistud-1087	203	43	)	)	PUNCT
eistud-1087	203	44	interest	interest	NOUN
eistud-1087	203	45	rate	rate	NOUN
eistud-1087	203	46	at	at	ADP
eistud-1087	203	47	which	which	PRON
eistud-1087	203	48	nation	nation	NOUN
eistud-1087	203	49	states	state	NOUN
eistud-1087	203	50	could	could	AUX
eistud-1087	203	51	borrow	borrow	VERB
eistud-1087	203	52	in	in	ADP
eistud-1087	203	53	international	international	ADJ
eistud-1087	203	54	markets	market	NOUN
eistud-1087	203	55	,	,	PUNCT
eistud-1087	203	56	because	because	SCONJ
eistud-1087	203	57	of	of	ADP
eistud-1087	203	58	the	the	DET
eistud-1087	203	59	lower	low	ADJ
eistud-1087	203	60	liquidity	liquidity	NOUN
eistud-1087	203	61	premium	premium	NOUN
eistud-1087	203	62	and	and	CCONJ
eistud-1087	203	63	the	the	DET
eistud-1087	203	64	lower	low	ADJ
eistud-1087	203	65	credit	credit	NOUN
eistud-1087	203	66	risk	risk	NOUN
eistud-1087	203	67	premium	premium	NOUN
eistud-1087	203	68	.	.	PUNCT
eistud-1087	204	1	the	the	DET
eistud-1087	204	2	funds	fund	NOUN
eistud-1087	204	3	raised	raise	VERB
eistud-1087	204	4	through	through	ADP
eistud-1087	204	5	issues	issue	NOUN
eistud-1087	204	6	of	of	ADP
eistud-1087	204	7	a	a	DET
eistud-1087	204	8	single	single	ADJ
eistud-1087	204	9	“	"	PUNCT
eistud-1087	204	10	european	european	ADJ
eistud-1087	204	11	bonds	bond	NOUN
eistud-1087	204	12	”	"	PUNCT
eistud-1087	204	13	could	could	AUX
eistud-1087	204	14	be	be	AUX
eistud-1087	204	15	channeled	channel	VERB
eistud-1087	204	16	to	to	ADP
eistud-1087	204	17	euro	euro	NOUN
eistud-1087	204	18	zone	zone	NOUN
eistud-1087	204	19	member	member	NOUN
eistud-1087	204	20	states	state	NOUN
eistud-1087	204	21	in	in	ADP
eistud-1087	204	22	various	various	ADJ
eistud-1087	204	23	ways	way	NOUN
eistud-1087	204	24	:	:	PUNCT
eistud-1087	204	25	by	by	ADP
eistud-1087	204	26	buying	buy	VERB
eistud-1087	204	27	their	their	PRON
eistud-1087	204	28	new	new	ADJ
eistud-1087	204	29	national	national	ADJ
eistud-1087	204	30	bond	bond	NOUN
eistud-1087	204	31	issues	issue	NOUN
eistud-1087	204	32	,	,	PUNCT
eistud-1087	204	33	or	or	CCONJ
eistud-1087	204	34	by	by	ADP
eistud-1087	204	35	buying	buy	VERB
eistud-1087	204	36	back	back	ADP
eistud-1087	204	37	old	old	ADJ
eistud-1087	204	38	national	national	ADJ
eistud-1087	204	39	bonds	bond	NOUN
eistud-1087	204	40	,	,	PUNCT
eistud-1087	204	41	or	or	CCONJ
eistud-1087	204	42	by	by	ADP
eistud-1087	204	43	lending	lend	VERB
eistud-1087	204	44	to	to	ADP
eistud-1087	204	45	member	member	NOUN
eistud-1087	204	46	states	state	NOUN
eistud-1087	204	47	against	against	ADP
eistud-1087	204	48	the	the	DET
eistud-1087	204	49	security	security	NOUN
eistud-1087	204	50	of	of	ADP
eistud-1087	204	51	domestic	domestic	ADJ
eistud-1087	204	52	bonds	bond	NOUN
eistud-1087	204	53	(	(	PUNCT
eistud-1087	204	54	nuti	nuti	PROPN
eistud-1087	204	55	,	,	PUNCT
eistud-1087	204	56	2011	2011	NUM
eistud-1087	204	57	)	)	PUNCT
eistud-1087	204	58	.	.	PUNCT
eistud-1087	205	1	sovereign	sovereign	ADJ
eistud-1087	205	2	debt	debt	NOUN
eistud-1087	205	3	crisis	crisis	NOUN
eistud-1087	205	4	is	be	AUX
eistud-1087	205	5	a	a	DET
eistud-1087	205	6	cyclical	cyclical	ADJ
eistud-1087	205	7	process	process	NOUN
eistud-1087	205	8	due	due	ADP
eistud-1087	205	9	to	to	ADP
eistud-1087	205	10	systematic	systematic	ADJ
eistud-1087	205	11	problems	problem	NOUN
eistud-1087	205	12	(	(	PUNCT
eistud-1087	205	13	mostly	mostly	ADV
eistud-1087	205	14	irrational	irrational	ADJ
eistud-1087	205	15	budgeting	budgeting	NOUN
eistud-1087	205	16	or	or	CCONJ
eistud-1087	205	17	large	large	ADJ
eistud-1087	205	18	social	social	ADJ
eistud-1087	205	19	spending	spending	NOUN
eistud-1087	205	20	programs	program	NOUN
eistud-1087	205	21	)	)	PUNCT
eistud-1087	205	22	.	.	PUNCT
eistud-1087	206	1	in	in	ADP
eistud-1087	206	2	order	order	NOUN
eistud-1087	206	3	to	to	PART
eistud-1087	206	4	overcome	overcome	VERB
eistud-1087	206	5	debt	debt	NOUN
eistud-1087	206	6	crisis	crisis	NOUN
eistud-1087	206	7	eu	eu	PROPN
eistud-1087	206	8	needs	need	VERB
eistud-1087	206	9	the	the	DET
eistud-1087	206	10	systematic	systematic	ADJ
eistud-1087	206	11	view	view	NOUN
eistud-1087	206	12	and	and	CCONJ
eistud-1087	206	13	coordination	coordination	NOUN
eistud-1087	206	14	.	.	PUNCT
eistud-1087	207	1	therefore	therefore	ADV
eistud-1087	207	2	giulio	giulio	PROPN
eistud-1087	207	3	tremonti	tremonti	PROPN
eistud-1087	207	4	and	and	CCONJ
eistud-1087	207	5	jean	jean	PROPN
eistud-1087	207	6	-	-	PUNCT
eistud-1087	207	7	claude	claude	PROPN
eistud-1087	207	8	juncker	juncker	NOUN
eistud-1087	207	9	in	in	ADP
eistud-1087	207	10	some	some	DET
eistud-1087	207	11	way	way	NOUN
eistud-1087	207	12	have	have	VERB
eistud-1087	207	13	advanced	advanced	ADJ
eistud-1087	207	14	jacques	jacques	PROPN
eistud-1087	207	15	delors	delor	NOUN
eistud-1087	207	16	’	’	PART
eistud-1087	207	17	idea	idea	NOUN
eistud-1087	207	18	and	and	CCONJ
eistud-1087	207	19	applied	apply	VERB
eistud-1087	207	20	it	it	PRON
eistud-1087	207	21	as	as	ADP
eistud-1087	207	22	a	a	DET
eistud-1087	207	23	mechanism	mechanism	NOUN
eistud-1087	207	24	of	of	ADP
eistud-1087	207	25	fi	fi	NOUN
eistud-1087	207	26	nancial	nancial	ADJ
eistud-1087	207	27	stability	stability	NOUN
eistud-1087	207	28	in	in	ADP
eistud-1087	207	29	eu	eu	PROPN
eistud-1087	207	30	.	.	PUNCT
eistud-1087	207	31	eu	eu	PROPN
eistud-1087	207	32	politicians	politician	NOUN
eistud-1087	207	33	and	and	CCONJ
eistud-1087	207	34	experts	expert	NOUN
eistud-1087	207	35	acknowledge	acknowledge	VERB
eistud-1087	207	36	that	that	SCONJ
eistud-1087	207	37	“	"	PUNCT
eistud-1087	207	38	european	european	ADJ
eistud-1087	207	39	bonds	bond	NOUN
eistud-1087	207	40	”	"	PUNCT
eistud-1087	207	41	could	could	AUX
eistud-1087	207	42	possibly	possibly	ADV
eistud-1087	207	43	be	be	AUX
eistud-1087	207	44	only	only	ADV
eistud-1087	207	45	the	the	DET
eistud-1087	207	46	part	part	NOUN
eistud-1087	207	47	of	of	ADP
eistud-1087	207	48	whole	whole	ADJ
eistud-1087	207	49	rescue	rescue	NOUN
eistud-1087	207	50	package	package	NOUN
eistud-1087	207	51	and	and	CCONJ
eistud-1087	207	52	eu	eu	PROPN
eistud-1087	207	53	should	should	AUX
eistud-1087	207	54	consider	consider	VERB
eistud-1087	207	55	more	more	ADJ
eistud-1087	207	56	on	on	ADP
eistud-1087	207	57	long	long	ADJ
eistud-1087	207	58	range	range	NOUN
eistud-1087	207	59	measures	measure	NOUN
eistud-1087	207	60	as	as	ADP
eistud-1087	207	61	eu	eu	PROPN
eistud-1087	207	62	crisis	crisis	NOUN
eistud-1087	207	63	solvency	solvency	NOUN
eistud-1087	207	64	mechanisms	mechanism	NOUN
eistud-1087	207	65	creation	creation	NOUN
eistud-1087	207	66	,	,	PUNCT
eistud-1087	207	67	more	more	ADV
eistud-1087	207	68	tough	tough	ADJ
eistud-1087	207	69	control	control	NOUN
eistud-1087	207	70	from	from	ADP
eistud-1087	207	71	imf	imf	PROPN
eistud-1087	207	72	and	and	CCONJ
eistud-1087	207	73	ecb	ecb	NOUN
eistud-1087	207	74	,	,	PUNCT
eistud-1087	207	75	larger	large	ADJ
eistud-1087	207	76	efsf	efsf	PROPN
eistud-1087	207	77	program	program	NOUN
eistud-1087	207	78	,	,	PUNCT
eistud-1087	207	79	because	because	SCONJ
eistud-1087	207	80	the	the	DET
eistud-1087	207	81	existing	exist	VERB
eistud-1087	207	82	eu	eu	PROPN
eistud-1087	207	83	rescue	rescue	NOUN
eistud-1087	207	84	funds	fund	NOUN
eistud-1087	207	85	wo	will	AUX
eistud-1087	207	86	n’t	not	PART
eistud-1087	207	87	be	be	AUX
eistud-1087	207	88	large	large	ADJ
eistud-1087	207	89	enough	enough	ADV
eistud-1087	207	90	.	.	PUNCT
eistud-1087	208	1	increase	increase	NOUN
eistud-1087	208	2	of	of	ADP
eistud-1087	208	3	efsf	efsf	PROPN
eistud-1087	208	4	funds	fund	NOUN
eistud-1087	208	5	is	be	AUX
eistud-1087	208	6	a	a	DET
eistud-1087	208	7	more	more	ADV
eistud-1087	208	8	likely	likely	ADJ
eistud-1087	208	9	scenario	scenario	NOUN
eistud-1087	208	10	than	than	ADP
eistud-1087	208	11	the	the	DET
eistud-1087	208	12	issuance	issuance	NOUN
eistud-1087	208	13	of	of	ADP
eistud-1087	208	14	“	"	PUNCT
eistud-1087	208	15	european	european	ADJ
eistud-1087	208	16	bonds	bond	NOUN
eistud-1087	208	17	”	"	PUNCT
eistud-1087	208	18	.	.	PUNCT
eistud-1087	209	1	the	the	DET
eistud-1087	209	2	tremonti	tremonti	PROPN
eistud-1087	209	3	-	-	PUNCT
eistud-1087	209	4	juncker	juncker	NOUN
eistud-1087	209	5	project	project	NOUN
eistud-1087	209	6	is	be	AUX
eistud-1087	209	7	a	a	DET
eistud-1087	209	8	good	good	ADJ
eistud-1087	209	9	idea	idea	NOUN
eistud-1087	209	10	for	for	ADP
eistud-1087	209	11	fi	fi	NOUN
eistud-1087	209	12	nancing	nance	VERB
eistud-1087	209	13	infrastructure	infrastructure	NOUN
eistud-1087	209	14	and	and	CCONJ
eistud-1087	209	15	increasing	increase	VERB
eistud-1087	209	16	market	market	NOUN
eistud-1087	209	17	liquidity	liquidity	NOUN
eistud-1087	209	18	in	in	ADP
eistud-1087	209	19	good	good	ADJ
eistud-1087	209	20	times	time	NOUN
eistud-1087	209	21	.	.	PUNCT
eistud-1087	210	1	yet	yet	CCONJ
eistud-1087	210	2	it	it	PRON
eistud-1087	210	3	requires	require	VERB
eistud-1087	210	4	a	a	DET
eistud-1087	210	5	large	large	ADJ
eistud-1087	210	6	loss	loss	NOUN
eistud-1087	210	7	of	of	ADP
eistud-1087	210	8	fi	fi	NOUN
eistud-1087	210	9	scal	scal	ADJ
eistud-1087	210	10	sovereignty	sovereignty	NOUN
eistud-1087	210	11	by	by	ADP
eistud-1087	210	12	high	high	ADJ
eistud-1087	210	13	debt	debt	NOUN
eistud-1087	210	14	countries	country	NOUN
eistud-1087	210	15	.	.	PUNCT
eistud-1087	211	1	because	because	SCONJ
eistud-1087	211	2	of	of	ADP
eistud-1087	211	3	its	its	PRON
eistud-1087	211	4	timing	timing	NOUN
eistud-1087	211	5	,	,	PUNCT
eistud-1087	211	6	it	it	PRON
eistud-1087	211	7	’s	’	VERB
eistud-1087	211	8	a	a	DET
eistud-1087	211	9	bad	bad	ADJ
eistud-1087	211	10	idea	idea	NOUN
eistud-1087	211	11	for	for	ADP
eistud-1087	211	12	solving	solve	VERB
eistud-1087	211	13	the	the	DET
eistud-1087	211	14	debt	debt	NOUN
eistud-1087	211	15	crisis	crisis	NOUN
eistud-1087	211	16	of	of	ADP
eistud-1087	211	17	europe	europe	PROPN
eistud-1087	211	18	.	.	PUNCT
eistud-1087	212	1	further	further	ADJ
eistud-1087	212	2	analysis	analysis	NOUN
eistud-1087	212	3	would	would	AUX
eistud-1087	212	4	also	also	ADV
eistud-1087	212	5	be	be	AUX
eistud-1087	212	6	needed	need	VERB
eistud-1087	212	7	on	on	ADP
eistud-1087	212	8	how	how	SCONJ
eistud-1087	212	9	to	to	PART
eistud-1087	212	10	overcome	overcome	VERB
eistud-1087	212	11	potential	potential	ADJ
eistud-1087	212	12	legal	legal	ADJ
eistud-1087	212	13	and	and	CCONJ
eistud-1087	212	14	practical	practical	ADJ
eistud-1087	212	15	obstacles	obstacle	NOUN
eistud-1087	212	16	to	to	ADP
eistud-1087	212	17	introducing	introduce	VERB
eistud-1087	212	18	contract	contract	NOUN
eistud-1087	212	19	-	-	PUNCT
eistud-1087	212	20	based	base	VERB
eistud-1087	212	21	seniority	seniority	NOUN
eistud-1087	212	22	.	.	PUNCT
eistud-1087	213	1	nevertheless	nevertheless	ADV
eistud-1087	213	2	,	,	PUNCT
eistud-1087	213	3	given	give	VERB
eistud-1087	213	4	the	the	DET
eistud-1087	213	5	potential	potential	ADJ
eistud-1087	213	6	benefi	benefi	NOUN
eistud-1087	213	7	ts	ts	ADP
eistud-1087	213	8	of	of	ADP
eistud-1087	213	9	explicit	explicit	ADJ
eistud-1087	213	10	seniority	seniority	NOUN
eistud-1087	213	11	for	for	ADP
eistud-1087	213	12	crisis	crisis	NOUN
eistud-1087	213	13	prevention	prevention	NOUN
eistud-1087	213	14	—	—	PUNCT
eistud-1087	213	15	and	and	CCONJ
eistud-1087	213	16	other	other	ADJ
eistud-1087	213	17	enhancements	enhancement	NOUN
eistud-1087	213	18	to	to	ADP
eistud-1087	213	19	bond	bond	NOUN
eistud-1087	213	20	contracts	contract	NOUN
eistud-1087	213	21	that	that	PRON
eistud-1087	213	22	would	would	AUX
eistud-1087	213	23	also	also	ADV
eistud-1087	213	24	mitigate	mitigate	VERB
eistud-1087	213	25	debt	debt	NOUN
eistud-1087	213	26	dilution	dilution	NOUN
eistud-1087	213	27	—	—	PUNCT
eistud-1087	213	28	this	this	DET
eistud-1087	213	29	paper	paper	NOUN
eistud-1087	213	30	calls	call	VERB
eistud-1087	213	31	for	for	ADP
eistud-1087	213	32	further	further	ADJ
eistud-1087	213	33	analysis	analysis	NOUN
eistud-1087	213	34	and	and	CCONJ
eistud-1087	213	35	discussion	discussion	NOUN
eistud-1087	213	36	of	of	ADP
eistud-1087	213	37	the	the	DET
eistud-1087	213	38	issue	issue	NOUN
eistud-1087	213	39	.	.	PUNCT
eistud-1087	214	1	issn	issn	PROPN
eistud-1087	214	2	1822–8402	1822–8402	NUM
eistud-1087	214	3	european	european	ADJ
eistud-1087	214	4	integration	integration	NOUN
eistud-1087	214	5	studies	study	NOUN
eistud-1087	214	6	.	.	PUNCT
eistud-1087	215	1	2011	2011	NUM
eistud-1087	215	2	.	.	PUNCT
eistud-1087	216	1	no	no	DET
eistud-1087	216	2	5	5	NUM
eistud-1087	216	3	131	131	NUM
eistud-1087	216	4	references	reference	NOUN
eistud-1087	216	5	basevi	basevi	PROPN
eistud-1087	216	6	g.	g.	PROPN
eistud-1087	216	7	un’agenzia	un’agenzia	PROPN
eistud-1087	216	8	europea	europea	PROPN
eistud-1087	216	9	del	del	PROPN
eistud-1087	216	10	debito	debito	PROPN
eistud-1087	216	11	pubblico	pubblico	PROPN
eistud-1087	216	12	.	.	PUNCT
eistud-1087	217	1	i	i	PRON
eistud-1087	217	2	mercati	mercati	PROPN
eistud-1087	217	3	finanziari	finanziari	PROPN
eistud-1087	217	4	internazionali	internazionali	PROPN
eistud-1087	217	5	.	.	PROPN
eistud-1087	217	6	nino	nino	PROPN
eistud-1087	217	7	andreatta	andreatta	PROPN
eistud-1087	217	8	e	e	PROPN
eistud-1087	217	9	la	la	PROPN
eistud-1087	217	10	politica	politica	PROPN
eistud-1087	217	11	economica	economica	PROPN
eistud-1087	217	12	,	,	PUNCT
eistud-1087	217	13	a	a	DET
eistud-1087	217	14	cura	cura	PROPN
eistud-1087	217	15	di	di	PROPN
eistud-1087	217	16	paolo	paolo	PROPN
eistud-1087	217	17	onofri	onofri	PROPN
eistud-1087	217	18	,	,	PUNCT
eistud-1087	217	19	il	il	PROPN
eistud-1087	217	20	mulino	mulino	PROPN
eistud-1087	217	21	,	,	PUNCT
eistud-1087	217	22	2006	2006	NUM
eistud-1087	217	23	.	.	PUNCT
eistud-1087	218	1	p	p	X
eistud-1087	218	2	113	113	NUM
eistud-1087	218	3	-	-	SYM
eistud-1087	218	4	118	118	NUM
eistud-1087	218	5	.	.	PUNCT
eistud-1087	219	1	borensztein	borensztein	PROPN
eistud-1087	219	2	e.	e.	PROPN
eistud-1087	219	3	,	,	PUNCT
eistud-1087	219	4	chamon	chamon	PROPN
eistud-1087	219	5	m.	m.	PROPN
eistud-1087	219	6	,	,	PUNCT
eistud-1087	219	7	jeanne	jeanne	PROPN
eistud-1087	219	8	o.	o.	PROPN
eistud-1087	219	9	,	,	PUNCT
eistud-1087	219	10	mauro	mauro	PROPN
eistud-1087	219	11	p.	p.	PROPN
eistud-1087	219	12	,	,	PUNCT
eistud-1087	219	13	zettelmeyer	zettelmeyer	PROPN
eistud-1087	219	14	j.	j.	PROPN
eistud-1087	219	15	sovereign	sovereign	ADJ
eistud-1087	219	16	debt	debt	NOUN
eistud-1087	219	17	structure	structure	NOUN
eistud-1087	219	18	for	for	ADP
eistud-1087	219	19	crisis	crisis	NOUN
eistud-1087	219	20	prevention	prevention	NOUN
eistud-1087	219	21	.	.	PUNCT
eistud-1087	220	1	international	international	ADJ
eistud-1087	220	2	monetary	monetary	ADJ
eistud-1087	220	3	fund	fund	PROPN
eistud-1087	220	4	occasional	occasional	ADJ
eistud-1087	220	5	paper	paper	NOUN
eistud-1087	220	6	,	,	PUNCT
eistud-1087	220	7	no	no	INTJ
eistud-1087	220	8	.	.	NOUN
eistud-1087	220	9	237	237	NUM
eistud-1087	220	10	,	,	PUNCT
eistud-1087	220	11	2004	2004	NUM
eistud-1087	220	12	buchheit	buchheit	PROPN
eistud-1087	220	13	l.	l.	PROPN
eistud-1087	220	14	c.	c.	PROPN
eistud-1087	220	15	,	,	PUNCT
eistud-1087	220	16	gulati	gulati	PROPN
eistud-1087	220	17	g.	g.	PROPN
eistud-1087	220	18	m.	m.	PROPN
eistud-1087	220	19	sovereign	sovereign	ADJ
eistud-1087	220	20	bonds	bond	NOUN
eistud-1087	220	21	and	and	CCONJ
eistud-1087	220	22	the	the	DET
eistud-1087	220	23	collective	collective	ADJ
eistud-1087	220	24	will	will	NOUN
eistud-1087	220	25	.	.	PUNCT
eistud-1087	221	1	emory	emory	PROPN
eistud-1087	221	2	law	law	PROPN
eistud-1087	221	3	journal	journal	PROPN
eistud-1087	221	4	.	.	PUNCT
eistud-1087	222	1	2002	2002	NUM
eistud-1087	222	2	.	.	PUNCT
eistud-1087	223	1	51	51	NUM
eistud-1087	223	2	(	(	PUNCT
eistud-1087	223	3	4	4	NUM
eistud-1087	223	4	)	)	PUNCT
eistud-1087	223	5	,	,	PUNCT
eistud-1087	223	6	p	p	NOUN
eistud-1087	223	7	1317	1317	NUM
eistud-1087	223	8	-	-	SYM
eistud-1087	223	9	1364	1364	NUM
eistud-1087	223	10	.	.	PUNCT
eistud-1087	224	1	calvo	calvo	PROPN
eistud-1087	224	2	g.	g.	PROPN
eistud-1087	224	3	servicing	service	VERB
eistud-1087	224	4	the	the	DET
eistud-1087	224	5	public	public	ADJ
eistud-1087	224	6	debt	debt	NOUN
eistud-1087	224	7	:	:	PUNCT
eistud-1087	224	8	the	the	DET
eistud-1087	224	9	role	role	NOUN
eistud-1087	224	10	of	of	ADP
eistud-1087	224	11	expectations	expectation	NOUN
eistud-1087	224	12	.	.	PUNCT
eistud-1087	225	1	american	american	PROPN
eistud-1087	225	2	economic	economic	PROPN
eistud-1087	225	3	review	review	PROPN
eistud-1087	225	4	.	.	PUNCT
eistud-1087	226	1	1988	1988	NUM
eistud-1087	226	2	.	.	PUNCT
eistud-1087	227	1	no	no	INTJ
eistud-1087	227	2	.	.	NOUN
eistud-1087	228	1	78	78	NUM
eistud-1087	228	2	,	,	PUNCT
eistud-1087	229	1	p.	p.	NOUN
eistud-1087	229	2	647–661	647–661	NUM
eistud-1087	229	3	.	.	PUNCT
eistud-1087	230	1	cole	cole	PROPN
eistud-1087	230	2	h.	h.	PROPN
eistud-1087	230	3	,	,	PUNCT
eistud-1087	230	4	kehoe	kehoe	PROPN
eistud-1087	230	5	p.	p.	PROPN
eistud-1087	230	6	2000	2000	NUM
eistud-1087	230	7	,	,	PUNCT
eistud-1087	230	8	“	"	PUNCT
eistud-1087	230	9	self	self	NOUN
eistud-1087	230	10	-	-	PUNCT
eistud-1087	230	11	fulfilling	fulfil	VERB
eistud-1087	230	12	debt	debt	NOUN
eistud-1087	230	13	crises	crisis	NOUN
eistud-1087	230	14	,	,	PUNCT
eistud-1087	230	15	”	"	PUNCT
eistud-1087	230	16	the	the	DET
eistud-1087	230	17	review	review	NOUN
eistud-1087	230	18	of	of	ADP
eistud-1087	230	19	economic	economic	ADJ
eistud-1087	230	20	studies	study	NOUN
eistud-1087	230	21	.	.	PUNCT
eistud-1087	231	1	2000	2000	NUM
eistud-1087	231	2	.	.	PUNCT
eistud-1087	232	1	vol	vol	NOUN
eistud-1087	232	2	.	.	PROPN
eistud-1087	232	3	67	67	NUM
eistud-1087	232	4	,	,	PUNCT
eistud-1087	232	5	p.	p.	NOUN
eistud-1087	232	6	91–116	91–116	PROPN
eistud-1087	232	7	.	.	PUNCT
eistud-1087	233	1	detragiache	detragiache	PROPN
eistud-1087	233	2	e.	e.	PROPN
eistud-1087	233	3	sensible	sensible	PROPN
eistud-1087	233	4	buybacks	buyback	NOUN
eistud-1087	233	5	of	of	ADP
eistud-1087	233	6	sovereign	sovereign	ADJ
eistud-1087	233	7	debt	debt	NOUN
eistud-1087	233	8	.	.	PUNCT
eistud-1087	234	1	journal	journal	PROPN
eistud-1087	234	2	of	of	ADP
eistud-1087	234	3	development	development	NOUN
eistud-1087	234	4	economics	economic	NOUN
eistud-1087	234	5	.	.	PUNCT
eistud-1087	235	1	1994	1994	NUM
eistud-1087	235	2	.	.	PUNCT
eistud-1087	236	1	vol	vol	NOUN
eistud-1087	236	2	.	.	PROPN
eistud-1087	237	1	43	43	NUM
eistud-1087	237	2	,	,	PUNCT
eistud-1087	238	1	p.	p.	NOUN
eistud-1087	238	2	317	317	NUM
eistud-1087	238	3	-	-	SYM
eistud-1087	238	4	333	333	NUM
eistud-1087	238	5	.	.	PUNCT
eistud-1087	239	1	european	european	PROPN
eistud-1087	239	2	council	council	PROPN
eistud-1087	239	3	24/25	24/25	NUM
eistud-1087	239	4	march	march	PROPN
eistud-1087	239	5	2011	2011	NUM
eistud-1087	239	6	.	.	PUNCT
eistud-1087	240	1	conclusions	conclusion	NOUN
eistud-1087	240	2	.	.	PUNCT
eistud-1087	241	1	availabe	availabe	VERB
eistud-1087	241	2	at	at	ADP
eistud-1087	241	3	:	:	PUNCT
eistud-1087	241	4	http://www.consilium.europa.eu/uedocs/cms_data/	http://www.consilium.europa.eu/uedocs/cms_data/	PROPN
eistud-1087	241	5	docs	docs	PROPN
eistud-1087	241	6	/	/	SYM
eistud-1087	241	7	pressdata	pressdata	PROPN
eistud-1087	241	8	/	/	SYM
eistud-1087	241	9	en	en	ADP
eistud-1087	241	10	/	/	SYM
eistud-1087	241	11	ec/120296.pdf	ec/120296.pdf	PROPN
eistud-1087	241	12	euro	euro	NOUN
eistud-1087	241	13	intelligence	intelligence	NOUN
eistud-1087	241	14	.	.	PUNCT
eistud-1087	242	1	juncker	juncker	NOUN
eistud-1087	242	2	and	and	CCONJ
eistud-1087	242	3	tremonti	tremonti	PROPN
eistud-1087	242	4	:	:	PUNCT
eistud-1087	242	5	“	"	PUNCT
eistud-1087	242	6	e	e	NOUN
eistud-1087	242	7	-	-	NOUN
eistud-1087	242	8	bonds	bond	NOUN
eistud-1087	242	9	would	would	AUX
eistud-1087	242	10	end	end	VERB
eistud-1087	242	11	the	the	DET
eistud-1087	242	12	crisis	crisis	NOUN
eistud-1087	242	13	”	"	PUNCT
eistud-1087	242	14	.	.	PUNCT
eistud-1087	243	1	available	available	ADJ
eistud-1087	243	2	at	at	ADP
eistud-1087	243	3	:	:	PUNCT
eistud-1087	243	4	http://www.eurointelligence	http://www.eurointelligence	NOUN
eistud-1087	243	5	.	.	PUNCT
eistud-1087	243	6	com	com	NOUN
eistud-1087	243	7	/	/	SYM
eistud-1087	243	8	index.php?id=581&tx_ttnews%5btt	index.php?id=581&tx_ttnews%5btt	NOUN
eistud-1087	243	9	_	_	NOUN
eistud-1087	243	10	news%5d=2975&tx_ttnews%5bbackpid%5d=901&cha	news%5d=2975&tx_ttnews%5bbackpid%5d=901&cha	ADJ
eistud-1087	243	11	sh=6271a389e4	sh=6271a389e4	ADJ
eistud-1087	243	12	eurostat	eurostat	PROPN
eistud-1087	243	13	.	.	PUNCT
eistud-1087	244	1	available	available	ADJ
eistud-1087	244	2	at	at	ADP
eistud-1087	244	3	:	:	PUNCT
eistud-1087	244	4	http://epp.eurostat.ec.europa.eu/portal/	http://epp.eurostat.ec.europa.eu/portal/	NOUN
eistud-1087	244	5	page	page	NOUN
eistud-1087	244	6	/	/	SYM
eistud-1087	244	7	portal	portal	ADJ
eistud-1087	244	8	/	/	SYM
eistud-1087	244	9	eurostat	eurostat	PROPN
eistud-1087	244	10	/	/	SYM
eistud-1087	244	11	home/	home/	PROPN
eistud-1087	244	12	gros	gros	X
eistud-1087	244	13	d.	d.	NOUN
eistud-1087	244	14	the	the	DET
eistud-1087	244	15	seniority	seniority	NOUN
eistud-1087	244	16	conundrum	conundrum	NOUN
eistud-1087	244	17	:	:	PUNCT
eistud-1087	244	18	bail	bail	VERB
eistud-1087	244	19	out	out	ADP
eistud-1087	244	20	countries	country	NOUN
eistud-1087	244	21	but	but	CCONJ
eistud-1087	244	22	bail	bail	NOUN
eistud-1087	244	23	in	in	ADP
eistud-1087	244	24	private	private	ADJ
eistud-1087	244	25	,	,	PUNCT
eistud-1087	244	26	short	short	ADJ
eistud-1087	244	27	-	-	PUNCT
eistud-1087	244	28	term	term	NOUN
eistud-1087	244	29	creditors	creditor	NOUN
eistud-1087	244	30	?	?	PUNCT
eistud-1087	245	1	available	available	ADJ
eistud-1087	245	2	at	at	ADP
eistud-1087	245	3	:	:	PUNCT
eistud-1087	245	4	http://www	http://www	PROPN
eistud-1087	245	5	.	.	PROPN
eistud-1087	245	6	voxeu.org/index.php?q=node/5891	voxeu.org/index.php?q=node/5891	NUM
eistud-1087	245	7	guidotti	guidotti	ADJ
eistud-1087	245	8	p.	p.	PROPN
eistud-1087	245	9	,kumar	,kumar	PUNCT
eistud-1087	245	10	m.	m.	NOUN
eistud-1087	245	11	domestic	domestic	ADJ
eistud-1087	245	12	public	public	ADJ
eistud-1087	245	13	debt	debt	NOUN
eistud-1087	245	14	of	of	ADP
eistud-1087	245	15	externally	externally	ADV
eistud-1087	245	16	indebted	indebted	ADJ
eistud-1087	245	17	countries	country	NOUN
eistud-1087	245	18	.	.	PUNCT
eistud-1087	246	1	imf	imf	PROPN
eistud-1087	246	2	occasional	occasional	ADJ
eistud-1087	246	3	paper	paper	NOUN
eistud-1087	247	1	no	no	INTJ
eistud-1087	247	2	.	.	PROPN
eistud-1087	247	3	80	80	NUM
eistud-1087	247	4	.	.	NUM
eistud-1087	247	5	1991	1991	NUM
eistud-1087	247	6	.	.	PUNCT
eistud-1087	248	1	imarketnews	imarketnew	NOUN
eistud-1087	248	2	.	.	PUNCT
eistud-1087	249	1	update	update	NOUN
eistud-1087	249	2	:	:	PUNCT
eistud-1087	249	3	juncker	juncker	NOUN
eistud-1087	249	4	,	,	PUNCT
eistud-1087	249	5	tremonti	tremonti	PROPN
eistud-1087	249	6	propose	propose	VERB
eistud-1087	249	7	eu	eu	PROPN
eistud-1087	249	8	sovereign	sovereign	ADJ
eistud-1087	249	9	bond	bond	NOUN
eistud-1087	249	10	issuer	issuer	NOUN
eistud-1087	249	11	.	.	PUNCT
eistud-1087	250	1	available	available	ADJ
eistud-1087	250	2	at	at	ADP
eistud-1087	250	3	:	:	PUNCT
eistud-1087	250	4	http://imarketnews	http://imarketnews	NUM
eistud-1087	250	5	.	.	NOUN
eistud-1087	250	6	com	com	NOUN
eistud-1087	250	7	/	/	SYM
eistud-1087	250	8	node/23431	node/23431	PROPN
eistud-1087	250	9	juncker	juncker	PROPN
eistud-1087	250	10	j.	j.	PROPN
eistud-1087	250	11	c.	c.	PROPN
eistud-1087	250	12	,	,	PUNCT
eistud-1087	250	13	tremonti	tremonti	PROPN
eistud-1087	250	14	g.	g.	PROPN
eistud-1087	250	15	e	e	PROPN
eistud-1087	250	16	-	-	NOUN
eistud-1087	250	17	bonds	bond	NOUN
eistud-1087	250	18	would	would	AUX
eistud-1087	250	19	end	end	VERB
eistud-1087	250	20	the	the	DET
eistud-1087	250	21	crisis	crisis	NOUN
eistud-1087	250	22	.	.	PUNCT
eistud-1087	251	1	available	available	ADJ
eistud-1087	251	2	at	at	ADP
eistud-1087	251	3	:	:	PUNCT
eistud-1087	251	4	http://www.ft.com/cms/s/0/540d41c2-009f11e0-aa29-00144feab49a.html#axzz1i1g8xjto	http://www.ft.com/cms/s/0/540d41c2-009f11e0-aa29-00144feab49a.html#axzz1i1g8xjto	PROPN
eistud-1087	251	5	manasse	manasse	NOUN
eistud-1087	252	1	p.	p.	NOUN
eistud-1087	252	2	my	my	PRON
eistud-1087	252	3	name	name	NOUN
eistud-1087	252	4	is	be	AUX
eistud-1087	252	5	bond	bond	NOUN
eistud-1087	252	6	,	,	PUNCT
eistud-1087	252	7	euro	euro	NOUN
eistud-1087	252	8	bond	bond	NOUN
eistud-1087	252	9	.	.	PUNCT
eistud-1087	253	1	available	available	ADJ
eistud-1087	253	2	at	at	ADP
eistud-1087	253	3	:	:	PUNCT
eistud-1087	253	4	http://www.voxeu.org/index.php?q=node/5936	http://www.voxeu.org/index.php?q=node/5936	NUM
eistud-1087	253	5	;	;	PUNCT
eistud-1087	253	6	missale	missale	ADJ
eistud-1087	253	7	a.	a.	NOUN
eistud-1087	253	8	public	public	ADJ
eistud-1087	253	9	debt	debt	NOUN
eistud-1087	253	10	management	management	NOUN
eistud-1087	253	11	.	.	PUNCT
eistud-1087	254	1	oxford	oxford	PROPN
eistud-1087	254	2	university	university	PROPN
eistud-1087	254	3	.	.	PUNCT
eistud-1087	255	1	1999	1999	NUM
eistud-1087	255	2	.	.	PUNCT
eistud-1087	256	1	monti	monti	PROPN
eistud-1087	256	2	m.	m.	PROPN
eistud-1087	256	3	a	a	DET
eistud-1087	256	4	new	new	ADJ
eistud-1087	256	5	strategy	strategy	NOUN
eistud-1087	256	6	for	for	ADP
eistud-1087	256	7	the	the	DET
eistud-1087	256	8	single	single	ADJ
eistud-1087	256	9	market	market	NOUN
eistud-1087	256	10	–	–	PUNCT
eistud-1087	256	11	at	at	ADP
eistud-1087	256	12	the	the	DET
eistud-1087	256	13	service	service	NOUN
eistud-1087	256	14	of	of	ADP
eistud-1087	256	15	europe	europe	PROPN
eistud-1087	256	16	’s	’s	PART
eistud-1087	256	17	economy	economy	NOUN
eistud-1087	256	18	and	and	CCONJ
eistud-1087	256	19	society	society	NOUN
eistud-1087	256	20	.	.	PUNCT
eistud-1087	257	1	report	report	VERB
eistud-1087	257	2	to	to	ADP
eistud-1087	257	3	the	the	DET
eistud-1087	257	4	president	president	NOUN
eistud-1087	257	5	of	of	ADP
eistud-1087	257	6	the	the	DET
eistud-1087	257	7	european	european	PROPN
eistud-1087	257	8	commission	commission	PROPN
eistud-1087	257	9	josé	josé	PROPN
eistud-1087	257	10	manuel	manuel	PROPN
eistud-1087	257	11	barroso	barroso	PROPN
eistud-1087	257	12	.	.	PUNCT
eistud-1087	258	1	available	available	ADJ
eistud-1087	258	2	at	at	ADP
eistud-1087	258	3	:	:	PUNCT
eistud-1087	258	4	http://ec.europa.eu/bepa/pdf/	http://ec.europa.eu/bepa/pdf/	NOUN
eistud-1087	258	5	monti_report_final_10_05_2010_en.pdf	monti_report_final_10_05_2010_en.pdf	PROPN
eistud-1087	258	6	nuti	nuti	PROPN
eistud-1087	258	7	m.	m.	NOUN
eistud-1087	258	8	a	a	DET
eistud-1087	258	9	single	single	ADJ
eistud-1087	258	10	european	european	ADJ
eistud-1087	258	11	sovereign	sovereign	ADJ
eistud-1087	258	12	bond	bond	NOUN
eistud-1087	258	13	?	?	PUNCT
eistud-1087	259	1	pie	pie	NOUN
eistud-1087	259	2	in	in	ADP
eistud-1087	259	3	the	the	DET
eistud-1087	259	4	sky	sky	NOUN
eistud-1087	259	5	,	,	PUNCT
eistud-1087	259	6	unless	unless	SCONJ
eistud-1087	259	7	…	…	PUNCT
eistud-1087	259	8	available	available	ADJ
eistud-1087	259	9	at	at	ADP
eistud-1087	259	10	:	:	PUNCT
eistud-1087	259	11	http://dmarionuti.blogspot	http://dmarionuti.blogspot	PROPN
eistud-1087	259	12	.	.	PUNCT
eistud-1087	260	1	com/2011/02	com/2011/02	PROPN
eistud-1087	260	2	/	/	SYM
eistud-1087	260	3	single	single	ADJ
eistud-1087	260	4	-	-	PUNCT
eistud-1087	260	5	european	european	ADJ
eistud-1087	260	6	-	-	PUNCT
eistud-1087	260	7	sovereign	sovereign	ADJ
eistud-1087	260	8	-	-	PUNCT
eistud-1087	260	9	bond	bond	NOUN
eistud-1087	260	10	-	-	PUNCT
eistud-1087	260	11	pie	pie	NOUN
eistud-1087	260	12	-	-	PUNCT
eistud-1087	260	13	in	in	NOUN
eistud-1087	260	14	.	.	PUNCT
eistud-1087	261	1	html	html	NOUN
eistud-1087	261	2	reuters	reuters	PROPN
eistud-1087	261	3	.	.	PUNCT
eistud-1087	262	1	juncker	juncker	PROPN
eistud-1087	262	2	,	,	PUNCT
eistud-1087	262	3	tremonti	tremonti	PROPN
eistud-1087	262	4	call	call	VERB
eistud-1087	262	5	for	for	ADP
eistud-1087	262	6	joint	joint	ADJ
eistud-1087	262	7	european	european	ADJ
eistud-1087	262	8	bonds	bond	NOUN
eistud-1087	262	9	.	.	PUNCT
eistud-1087	263	1	available	available	ADJ
eistud-1087	263	2	at	at	ADP
eistud-1087	263	3	:	:	PUNCT
eistud-1087	263	4	http://www.reuters.com/article/2010/12/05/	http://www.reuters.com/article/2010/12/05/	NUM
eistud-1087	263	5	ebond	ebond	NOUN
eistud-1087	263	6	-	-	PUNCT
eistud-1087	263	7	iduslde6b40he20101205	iduslde6b40he20101205	NOUN
eistud-1087	263	8	rich	rich	PROPN
eistud-1087	263	9	b.	b.	PROPN
eistud-1087	263	10	four	four	NUM
eistud-1087	263	11	stages	stage	NOUN
eistud-1087	263	12	of	of	ADP
eistud-1087	263	13	a	a	DET
eistud-1087	263	14	sovereign	sovereign	ADJ
eistud-1087	263	15	debt	debt	NOUN
eistud-1087	263	16	crisis	crisis	NOUN
eistud-1087	263	17	.	.	PUNCT
eistud-1087	264	1	2010	2010	NUM
eistud-1087	264	2	.	.	PUNCT
eistud-1087	265	1	available	available	ADJ
eistud-1087	265	2	at	at	ADP
eistud-1087	265	3	:	:	PUNCT
eistud-1087	265	4	http://www.dailymarkets.com/	http://www.dailymarkets.com/	VERB
eistud-1087	265	5	stock/2010/06/21	stock/2010/06/21	PROPN
eistud-1087	265	6	/	/	SYM
eistud-1087	265	7	the	the	DET
eistud-1087	265	8	-	-	PUNCT
eistud-1087	265	9	four	four	NUM
eistud-1087	265	10	-	-	PUNCT
eistud-1087	265	11	stages	stage	NOUN
eistud-1087	265	12	-	-	PUNCT
eistud-1087	265	13	of	of	ADP
eistud-1087	265	14	-	-	PUNCT
eistud-1087	265	15	a	a	DET
eistud-1087	265	16	-	-	PUNCT
eistud-1087	265	17	sovereign	sovereign	ADJ
eistud-1087	265	18	-	-	PUNCT
eistud-1087	265	19	debtcrisis/	debtcrisis/	NUM
eistud-1087	265	20	reinhart	reinhart	PROPN
eistud-1087	265	21	c.	c.	PROPN
eistud-1087	265	22	,	,	PUNCT
eistud-1087	265	23	rogoff	rogoff	PROPN
eistud-1087	265	24	k.	k.	PROPN
eistud-1087	265	25	,	,	PUNCT
eistud-1087	265	26	savastano	savastano	NOUN
eistud-1087	265	27	m.	m.	NOUN
eistud-1087	265	28	debt	debt	NOUN
eistud-1087	265	29	intolerance	intolerance	NOUN
eistud-1087	265	30	.	.	PUNCT
eistud-1087	266	1	brookings	brookings	PROPN
eistud-1087	266	2	papers	paper	NOUN
eistud-1087	266	3	on	on	ADP
eistud-1087	266	4	economic	economic	ADJ
eistud-1087	266	5	activity	activity	NOUN
eistud-1087	266	6	.	.	PUNCT
eistud-1087	267	1	2003	2003	NUM
eistud-1087	267	2	.	.	PUNCT
eistud-1087	268	1	no	no	INTJ
eistud-1087	268	2	.	.	NOUN
eistud-1087	269	1	1	1	X
eistud-1087	269	2	.	.	PUNCT
eistud-1087	270	1	p	p	PROPN
eistud-1087	270	2	1–74	1–74	PROPN
eistud-1087	270	3	.	.	PUNCT
eistud-1087	271	1	the	the	DET
eistud-1087	271	2	article	article	NOUN
eistud-1087	271	3	has	have	AUX
eistud-1087	271	4	been	be	AUX
eistud-1087	271	5	reviewed	review	VERB
eistud-1087	271	6	.	.	PUNCT
eistud-1087	272	1	received	receive	VERB
eistud-1087	272	2	in	in	ADP
eistud-1087	272	3	april	april	PROPN
eistud-1087	272	4	,	,	PUNCT
eistud-1087	272	5	2011	2011	NUM
eistud-1087	272	6	;	;	PUNCT
eistud-1087	272	7	accepted	accept	VERB
eistud-1087	272	8	in	in	ADP
eistud-1087	272	9	june	june	PROPN
eistud-1087	272	10	,	,	PUNCT
eistud-1087	272	11	2011	2011	NUM
eistud-1087	272	12	.	.	PUNCT