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The sovereign debt crisis that deepened within the last three years in particular Eurozone countries makes up one of the major components of the current global economic crisis (2006-2011) which were briefly described in Kibritçioğlu (2011). In this follow-up study, the historical and political...
Persistent link: https://www.econbiz.de/10009323468
In the last decade, many economies were marked by the severe financial crises since the Great Depression. The euro area faced considerable economic difficulties and the CDS has become the focal point of the current crisis. The euro sovereign debt crises started in Greece and later on, spread to...
Persistent link: https://www.econbiz.de/10011260359
markets volatility raises the need for a new approach of public debt sustainability, including for Romania. Despite more … sovereign risk, which is decisive in dimensioning the borrowing costs, has grown. In the case of Romania, a sharp deterioration … supposed to overlap with the exchange rate and interest rate risks on medium and long term. Several indicators of Romania …
Persistent link: https://www.econbiz.de/10011114081
This paper proposes a redemption fund for the euro zone countries alternative to that recently proposed by Doluca et al. (2012) – The European Redemption Pact: an Illustrative Guide, GCEE Working Paper No.2, February – and in coherence with a previous proposal of one of the author. In doing...
Persistent link: https://www.econbiz.de/10011260940
This paper proposes a redemption fund for the euro zone countries alternative to that recently proposed by Doluca et al. (2012) – The European Redemption Pact: an Illustrative Guide, GCEE Working Paper No.2, February – and in coherence with a previous proposal of one of the author. In doing...
Persistent link: https://www.econbiz.de/10010599162
This paper proposes a redemption fund for the euro zone countries alternative to that recently proposed by Doluca et al. (2012) – The European Redemption Pact: an Illustrative Guide, GCEE Working Paper No.2, February – and in coherence with a previous proposal of one of the author. In doing...
Persistent link: https://www.econbiz.de/10011258054
Credit derivatives allow for buying protection on corporate debt, but also on sovereign debt. In this paper we examine the implications for sovereign debt crises. We show that the availability of credit protection lowers ex-ante debtor moral hazard by allowing a bondholder to improve his...
Persistent link: https://www.econbiz.de/10005089342
Using survey data on debt management strategies, this paper studies whether the probability that a country has a debt management strategy, publishes its debt strategy, and uses a benchmark-based strategy is affected by democratic accountability, institutional quality, past debt crises/defaults,...
Persistent link: https://www.econbiz.de/10005061667
research in Romania. At this time, migration and mobility are studied as minor subjects in Economics, Sociology, Political … view – social, economical, legal etc. Romania is part of the European Migration Space not only as a source of labourers for … located at the eastern border of the European Union, we consider Romania as part of the European area of freedom, security and …
Persistent link: https://www.econbiz.de/10005621891
migrant. If they all lived in the same place, it would be the world’s fifth-largest country (BBC, 2004). In Europe, as …-western Europe but increasingly also in other regions, and the odds are that many more immigrants will follow in the coming decades … migration regimes in northern and southern Europe require differentiated policy approaches. More importantly, migration policies …
Persistent link: https://www.econbiz.de/10008587825