Question: Problems - You have to show your work. No credit without an explanation (30 marks each). 1. Briefly describe the doom loop or deadly embrace

Problems - You have to show your work. No credit without an explanation (30 marks each).

1. Briefly describe the "doom loop" or "deadly embrace" between banks and governments, why it is a problem in a monetary union and how it can be addressed.

2. Briefly explain if monetary unions lead to more or less fiscal discipline and why.

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