Plan made by the ZEW institute assumes that land issues should be first applied for assistance from

Plan made by the ZEW institute assumes that land issues should be first applied for assistance from the European Stability Mechanism (ESM), enabling cake boxes it to restore public finances set a deadline of three years.
"We have to get into a situation where sovereign debt restructuring will not cause a disaster," said the head of the Frankfurt Institute Clemens Füst. "We need a credible process of insolvency proceedings," he added. The plan would, according to him should be put into practice cake boxes in the more distant future, such as in 2025.
According to Reuters, it is not yet certain whether the proposal will acquire the government in Berlin. Füst admitted that the proposed procedure may be practical for smaller states, but its application to large countries like Italy can be challenging. ZEW institute compiles cake boxes closely watched index of business confidence in Europe's largest economy.
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