Read the case -- The Euro in Crisis Decision Time at the European Central Bank And answer the following questions:

4. Should the ECB announce a purchase of Greek sovereign debt? Will doing so protect or destroy the euro? Will doing so create moral hazard? If so, for whom? Policymakers within the ECB were most worried about the moral hazard it would create in Brussels. What do they mean by that? Will this move help or hurt EU efforts to deal with fiscal coordination?