economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

We identify crucial events during the European sovereign debt crisis and investigate their impact on the euro currency … (ECB) actions, and credit rating downgrades affect the value and the crash risk of the euro. We proxy the value changes of … the euro by its abnormal foreign exchange (FX) rate returns with respect to 35 currencies. The crash risk of the euro is …