Barnes, Sebastian; Lane, Philip R.; Radziwill, Artur - Economics Department, Organisation de Coopération et … - 2010
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an … euro area. Banks played a key role in channelling funds from economies with large surpluses to deficit countries, leading … supervisory architecture contributed to these problems in the euro area, as in other OECD economies. Gaps in microprudential …