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More than 100 episodes of bank insolvencies have been documented by Caprio and Klingebiel (1996) for the period from 1980 to 1995 - and this does not include the Asian crisis. About 75 percent of these were classified as major insolvencies with potential systemic implications. The overwhelming...
Persistent link: https://www.econbiz.de/10011502843
Persistent unemployment is the top social and economic problem of most EU countries. Today, the unemployment rate in most EU countries is above ten percent and, although unemployment has decreased during expansions, the average EU unemployment rate within each cycle has increased since the early...
Persistent link: https://www.econbiz.de/10011502957
Although a large series of papers have been concerned with macroeconomic issues such as price stability or employment, very few studies have discussed the impact of the euro on the competitive structure of European banking markets. Two questions are being addressed in this paper: How does the...
Persistent link: https://www.econbiz.de/10011499036
Persistent link: https://www.econbiz.de/10011499100
Throughout the industrialised world the banking sector has embarked on a programme of restructuring and consolidation. In Japan the severity of the banking crisis has recently forced both the banking sector and the authorities to recognise deep-rooted problems and to take decisive action. In...
Persistent link: https://www.econbiz.de/10011499104
The launch of the euro proved to be extraordinarily smooth - auguring well for its future. If the EU can build on this initial success, then citizens - from anywhere in the world - should come to recognise the euro as a robust 'store of value' for their savings. That should complete the...
Persistent link: https://www.econbiz.de/10011499110
On the first of January 1993, the Second Banking Directive (1989) of the European Union and a number of the other EU Directives (1) related to the financial service industry were implemented. This heralded a new episode of deregulation, standardised minimum capital requirements and changes in...
Persistent link: https://www.econbiz.de/10011499198
With the successful launch of the euro, the previously national interbank bank markets have been integrated at once in a unified euro interbank market, outstanding public debt has been redenominated in euro, trading conventions harmonised, and all EMU stock markets have started quoting in euro....
Persistent link: https://www.econbiz.de/10011499203
The process that so many people are envisaging for EU capital markets may be summarised approximately as follows: The single currency will eliminate currency risk. This will encourage a diversification by investors based upon other risk considerations. This will lead to a tremendous growth in...
Persistent link: https://www.econbiz.de/10011499228
A considerable amount has been written about the impact of EMU on European financial markets. A broad consensus has emerged from this work, with the main conclusions as follows: Government bond markets will be more closely integrated and yields closely correlated. Non-government borrowers will...
Persistent link: https://www.econbiz.de/10011499270