Showing 1 - 10 of 1,563
The rising delinquencies in the U.S. subprime mortgage market in 2006 and the succeeding collapse in housing prices had a considerably negative impact on the functioning of the European financial systems and the smooth operation of European economies. Indeed, in the Euro-area, what started as a...
Persistent link: https://www.econbiz.de/10011186604
Financial integration is the process that has been occurring in the European Union for many years and that intensified after adoption of the common currency in 1999. This paper discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and...
Persistent link: https://www.econbiz.de/10009353534
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
One solution to the euro crisis as a debt crisis can be found in stimulating economic growth. The Troika has proposed measures to deregulate labor markets in Southern EU countries: a longer working week, relaxation of job dismissal laws, raising the age of retirement. A longer working week for...
Persistent link: https://www.econbiz.de/10011258799
The Eurozone countries are still trying to find a way out to the crisis that has affected the European Monetary Union … characterized the crisis of the euro, while several countries of Eurozone have entered in a phase of slow and even negative growth … the single currency. The crisis of the Eurozone has shown that a sustainable currency union requires more governance …
Persistent link: https://www.econbiz.de/10011260100
This paper proposes a model to study how conditional lending and immediate liquidity provision affect incentives for fiscal adjustment in a country facing the risk of sovereign default. Conditional lending provides explicit incentives for fiscal adjustment but immediate liquidity provision is...
Persistent link: https://www.econbiz.de/10011109435
Starting from the constraints and incentives that cause countries to issue debt in foreign currency, this paper provides an overview of policy approaches for choosing the optimal currency structure of sovereign foreign-currency debt. The objective of sovereign debt managers generally includes...
Persistent link: https://www.econbiz.de/10008529277
The Greek parliamentary elections in January .2015 led to a foreseeable change in government. The coalition government between the conservative Nea Dimokratia and of the socialist PASOK, become replaced. by a coalition government between the left wing coalition party SYRIZA and the extreme...
Persistent link: https://www.econbiz.de/10011185382