categories, namely the foreign direct investment, equity investment and debt components. Finally, we report on valuation changes …

categories, namely the foreign direct investment, equity investment and debt components. Finally, we report on valuation changes …

a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra … -euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …

This paper distils three lessons for bank regulation from the experience of the 2009-12 euro-area financial crisis …. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and … fiscal distress, and inquires how the regulation of banks' sovereign exposures in the euro area should be changed to mitigate …