As the global banking crisis intensified in the fall of 2008, governments announced comprehensive rescue packages for financial institutions. In this paper, we put the joint response of euro area bank and sovereign CDS premia under the microscope. We find that the bank rescue packages led to a...

This paper examines the fiscal policy challenges for oil-centred economies over the past few years in general, focusing on developments in four major oil-exporting countries in EU neighbouring regions: Algeria, Nigeria, Russia and Saudi Arabia