The coronavirus crisis has caused new distress in the European Economic and Monetary Union (EMU), as the southern part of the EMU has been hit stronger than the northern part. The common currency prevents nominal exchange rate adjustment in response to the asymmetric shock. Policymakers have...

Competence behind sovereign ratings is crucial, given that the government bond market may be vulnerable to multiple equilibria and self-fulfilling prophecies. With this in mind, this paper reviews and scrutinises official Standard & Poor's publications that address key issues surrounding the...

The current complicated economic situation in Greece - and the rising political uncertainty that once again accompanies it - has important repercussions for growth, incomes, employment and the banking system in both the short and long term. The new Greek government is trying to perform a...

Global factors are becoming increasingly important as a cause of international capital flows. It is nearly impossible for some countries to protect themselves from outside influences on their financial markets. This paper investigates the extent to which various global factors such as stock...