This publication collects the papers presented at the workshop entitled "The sovereign debt crisis and the euro area … Area of the Bank of Italy has conducted several analyses on the impact of the sovereign debt crisis on the financial system … mechanisms whereby the tensions in the government bond markets due to the sovereign debt crisis were transmitted to the banking …

the fiscal regime when the signaling effect on credit ratings is larger (that is, when a sufficiently large stock of debt … governments. We show that a testable prediction of our model is that primary balances and debt stocks are complementary inputs in …