The European Debt Crisis
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Resolving The European Debt Crisis
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Author : William R. Cline
language : en
Publisher: Peterson Institute
Release Date : 2012-03-15
Resolving The European Debt Crisis written by William R. Cline and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-15 with Business & Economics categories.
What began as a relatively localized crisis in Greece in early 2010 soon escalated to envelop Ireland and Portugal. By the second half of 2011, the contagion had spread to the far larger economies of Italy and Spain. In mid-September the Peterson Institute and Bruegel hosted a conference designed to contribute to the formulation of policies that could help resolve the euro area debt crisis. This volume presents the conference papers; several are updated through end-2011. European experts examine the political context in Greece (Loukas Tsoukalis), Ireland (Alan Ahearne), Portugal (Pedro Lourtie), Spain (Guillermo de la Dehesa), Italy (Riccardo Perissich), Germany (Daniela Schwarzer), and France (Zaki La�di). Lessons from past debt restructurings are then examined by Jeromin Zettelmeyer (economic) and Lee Buchheit (legal). The two editors separately consider the main current policy issues: debt sustainability by country, private sector involvement and contagion, alternative restructuring approaches, how to assemble a large emergency financing capacity, whether the European Central Bank (ECB) should be a lender of last resort, whether joint-liability "eurobonds" would be feasible and desirable, and the implications of a possible break-up of the euro area. The luncheon address by George Soros and a description (by Steven R. Weisman with Silvia B. Merler) of the policy simulation game played on the second day of the conference complete the volume. Involving market participants and experts representing the roles of euro area governments, the ECB, IMF, G-7, and credit rating agencies, the game led to a proposal for leveraging the capacity of the European Financial Stability Facility through arrangements with the ECB.
The European Debt Crisis
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Author : Ali Ari
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2014-03-17
The European Debt Crisis written by Ali Ari and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-17 with Political Science categories.
The recent global financial crisis is considered to be the most severe crisis which has led to a synchronised recession since the Great Depression in the 1930s. Europe is the most affected region in the world as a result of this crisis, and, as such, the sovereign debt crisis remains the most important issue in the Eurozone and threatens the future of the EU. This book provides answers, from both theoretical and empirical perspectives, to the following questions: What caused the global and European debt crises? What are the consequences of these crises? Why, despite the implementation of several policy measures, are these crises still affecting the world economy? What are the solutions to end the on-going crisis situation in the Eurozone? How can future crisis episodes in the world economy be prevented? Eleven quality papers from both academics and professionals are included in this volume, each of which provides a significant source, reference, and teaching supplement for researchers, policymakers and advanced graduate students. In addition, the papers collected here will also provide supplementary readings for advanced courses for graduate students in economics and European studies.
The European Debt Crisis And Its Effects On Germany S Economic Competitiveness
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Author : Christian Tschäbunin
language : en
Publisher: GRIN Verlag
Release Date : 2017-08-01
The European Debt Crisis And Its Effects On Germany S Economic Competitiveness written by Christian Tschäbunin and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-01 with Business & Economics categories.
For Germany, as a strongly export-oriented economy, competitiveness on the international markets is of critical importance for its wealth and economic growth. A loss of competitive advantages could therefore severely affect the German economy. The aim of this book is to answer the question if and in what way this threat affected Germany’s economic competitiveness during the European debt crisis. The results will then be used to further define the publicly dominant disadvantages as well as possible advantages for Germany as a consequence of the crisis. In the end, the book also has the objective to give policy recommendations for the euro crisis from a German perspective. The results can subsequently contribute to the discussion whether Germany’s current policy is really „without any alternative“. In order to achieve the overall research goal, a combination of literature review and comprehensive data analysis is used. First of all, to provide a first „pillar“ of contextual background for the following analysis, an overview of the development and causes of the European debt crisis is given by referring to existing literature. Also, this section presents the financial and economic consequences of the described events in a graphical manner. Secondly, to construct the second pillar of conceptual framework, the term „economic competitiveness” is defined by a comprehensive literature review. Emphasis is put upon the concept of „ability to sell” and the measurement method of the country rankings while a short overview of other concepts is also provided. Finally, in combining theory and practice, an in-depth data-based analysis of the development of Germany’s economic competitiveness is given. With the help of various publicly available data sources, Germany’s ability to sell and other competitiveness metrics are tracked and elaborated on over the last centuries, with a special emphasis on the timeframe of the European debt crisis. Furthermore, comparisons to other countries are made to emphasize characteristics unique to Germany. Ultimately, the results of the analyses are evaluated and concluded in a short discussion about Germany’s current policy in the euro crisis. In this book: - the European debt crisis; - the role of Germany; - competitiveness; - prosperity; - ability to sell
The European Debt Crisis
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Author : João Moreira Rato
language : en
Publisher: Springer Nature
Release Date : 2020-12-12
The European Debt Crisis written by João Moreira Rato and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-12 with Business & Economics categories.
This book explores Portugal’s response to the 2008 economic crisis and how the country regained the trust of the global capital markets through investor support. The experiences and successes of Portugal are compared with the other Eurozone countries, in particular Greece which had to negotiate a series of assistance programs, to highlight the strategies which helped lessen the impact of the debt crisis. This book aims to provide insight into the global investor ecosystem and to how financial globalization works in practice, illustrating how the multinational investor universe, the financial media, rating agencies, and how investment banks interact. It will be relevant to students and researchers interested in financial markets and political economy, and also financial market practicioners and policy makers.
The European Sovereign Debt Crisis And Its Impacts On Financial Markets
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Author : Go Tamakoshi
language : en
Publisher: Routledge
Release Date : 2015-02-11
The European Sovereign Debt Crisis And Its Impacts On Financial Markets written by Go Tamakoshi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-11 with Business & Economics categories.
The global financial crisis saw many Eurozone countries bearing excessive public debt. This led the government bond yields of some peripheral countries to rise sharply, resulting in the outbreak of the European sovereign debt crisis. The debt crisis is characterized by its immediate spread from Greece, the country of origin, to its neighbouring countries and the connection between the Eurozone banking sector and the public sector debt. Addressing these interesting features, this book sheds light on the impacts of the crisis on various financial markets in Europe. This book is among the first to conduct a thorough empirical analysis of the European sovereign debt crisis. It analyses, using advanced econometric methodologies, why the crisis escalated so prominently, having significant impacts on a wide range of financial markets, and was not just limited to government bond markets. The book also allows one to understand the consequences and the overall impact of such a debt crisis, enabling investors and policymakers to formulate diversification strategies, and create suitable regulatory frameworks.
The European Sovereign Debt Crisis
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Author : Phoebus Athanassiou
language : en
Publisher:
Release Date : 2021-08
The European Sovereign Debt Crisis written by Phoebus Athanassiou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08 with Debts, Public categories.
Introduction -- The sovereign-banks Nexus : an economic analysis -- The European sovereign debt crisis as a source of case studies -- An economic analysis of policy options -- Closing the first channel of contagion from banks to sovereigns : Hitherto European actions and their critique -- Closing the second channel of contagion from sovereigns to banks : legal assessment of policy options.
Democracy And Debt The European Debt Crisis
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Author :
language : en
Publisher: Matt Buttsworth
Release Date :
Democracy And Debt The European Debt Crisis written by and has been published by Matt Buttsworth this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
The Imf And The European Debt Crisis
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Author : Mr. Harold James
language : en
Publisher: International Monetary Fund
Release Date : 2024-01-05
The Imf And The European Debt Crisis written by Mr. Harold James and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-05 with Business & Economics categories.
The book explores the Fund’s engagement in Europe in the aftermath of the 2008 global financial crisis, and especially after 2010. It explains how, why, and with what consequences the International Monetary Fund—along with the European Central Bank and the European Commission (together known as “the troika”)—supported adjustment programs in Greece, Ireland, Portugal, and Cyprus as well as helping to monitor Spain’s adjustment program and exploring modalities for supporting Italy. Additionally, it analyzes how the euro area developments interacted with and affected the rest of Europe, including not only eastern and southeastern Europe but also the United Kingdom, where the political fallout from post-financial crisis populism—in the form of “Brexit” from the European Union—was, in the end, the most extreme. The IMF’s European programs embroiled the Fund in numerous controversies over the exceptionally large lending, over whether or not to impose losses on private creditors, and over the mix between external financing and internal adjustment undertaken by program countries. They also required the IMF to confront longstanding questions about its governance and evenhandedness in the treatment of different segments of its membership. The crisis programs, with Greece, Ireland, Portugal and Cyprus, all revolved around debt sustainability. In the Greek case, after an intense internal debate, the IMF initially chose a program without debt reduction because it feared that such a program–even if ultimately in the interests of Greece, the client country–would trigger a panic of banks and other creditors and thus generate contagion for the rest of Europe. Learning from the Greek case, in Ireland and Portugal, the IMF pushed for debt reduction, to which the government in Ireland but not in Portugal was sympathetic. There was thus no private sector debt reduction in Ireland and Portugal. The European programs were caught up in big geopolitical debates about the appropriate role of the Fund in the aftermath of the global financial crisis. The book examines the intellectual and policy shifts that took place in the IMF as a result of the controversies about its European programs. It concludes with some reflections on how all the programs also produced genuine policy reform and held out the possibility of a return to growth and prosperity.
The Debt Crisis In The Eurozone
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Author : Nikos Petropoulos
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2014-06-02
The Debt Crisis In The Eurozone written by Nikos Petropoulos and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-02 with Social Science categories.
During the past four years, the countries of the European periphery – the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) – have been experiencing an economic-financial crisis that can only be compared to the Great Depression. To solve the crisis, the EU and the IMF instituted bailout programs for the debit countries on conditions of austerity and structural reforms. In this volume 20 social scientists, using both theoretical and empirical tools, delve into the causes and the social impacts of this crisis. The volume also provides an excellent background for a better comprehension of the dynamics of structural and political changes now taking place within the European Union. The social impacts cover a range of consequences, including poverty, unemployment, anti-migrant attitudes, a decline of welfare and health indicators, post-traumatic stress disorders, national humiliation, political alienation and social protest. The authors analyse the “international” and the “domestic” causes of the crisis, while some of them underline the importance of both factors. In the concluding chapter, the editors undertake a synthesis of the previous chapters, and extract a number of policy recommendations that – if adopted – could transform the current financial crisis into a growth-opportunity for the European Union and its member states.
The European Debt Crisis And The Future Of The Eurozone
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Author : Daniel McGovern
language : en
Publisher: Wiley
Release Date : 2012-11-30
The European Debt Crisis And The Future Of The Eurozone written by Daniel McGovern and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-30 with Business & Economics categories.
Everything finance professionals need to know about Europe's sovereign debt crisis Europe's debt crisis continues unabated, resulting in steep borrowing costs, loss of access to capital markets, and unprecedented sovereign debt restructuring. Banking systems are suffering through deteriorating loan books, deposit outflows, and a loss of medium-term funding. The EU and European Central Bank have responded with massive bailout programs, but financial markets remain wary of the long-term prospects for Europe, particularly as the possibility of peripheral countries leaving the Eurozone increases. The European Debt Crisis and the Future of the Eurozone presents unique insider perspectives on the crisis with informed insight from key players in the ECB, major European governments, and ratings agencies, as well as leading bankers and market analysts. The book details the root causes of the crisis, including excessive leverage and large deficits, before exploring the role of credit ratings and credit default swaps in sustaining the crisis. It looks at what can be done to ensure liquidity for governments and banks and offers advice for investors on what to do if they become insolvent. It explains the reforms needed to put Europe's banks and governments on a stable long-term footing and what those reforms will mean for investors and finance and banking professionals. Includes a clear and compelling explanation of the sovereign debt crisis and what can be done to fix Europe's ailing banks and governments Enables readers to understand both how banking problems can overwhelm governments and how government debt problems can undermine local banking systems Written by a financial consultant with more than 25 years of experience working in sovereign debt, economic and financial research, and capital markets Europe's debt crisis and the reforms needed to solve it will have a major impact on financial and banking decisions for years to come. The European Debt Crisis and the Future of the Eurozone gives bankers and investors the information they need to successfully navigate the EU's shifting financial landscape.