Despite the experience of the ongoing sovereign debt crisis, European banks continue to hold large amounts of bonds from their home governments. This ties the fates of the sovereign and the banks together, leading to the disruptive self-reinforcing feedback loops that brought the euro area to...

In a single volume, this book treats the theoretical, empirical, and case studies approaches to the implementation of monetary reforms and discusses specific countries' experiences with these approaches. The analyses are not restricted to central bank or exchange rate reforms, but consider all...