The introduction of the euro meant that countries with sovereign debt problems could not use monetisation and … devaluation as a way to prevent default. The institutional structures of the euro were also widely thought to prevent a country in … difficulties being bailed out by other euro members or having its sovereign debt purchased by the ECB. Despite these restrictions …

We use quanto credit default swaps to analyze the impact of a credit event in the Euro zone on the Euro-Dollar exchange … rate. In light of the European debt crisis, market participants are willing to pay more for protection against a sovereign … credit event if the payment in such an event is denominated in US-Dollar rather than in Euro, because they expect the Euro to …

global economy. Germany protests that it did all it could to save the euro and is doing all it can to contribute to European … economic health. Indeed, by 2017, the euro had survived. But, it survived at the expense of the societies and the economies of …

The euro has had a difficult second decade but the project has still had some important successes. The common currency … is popular among the euro area's citizens, intra-European exchange rate instability has been removed and the ECB has … successfully achieved its primary goal of price stability. The single currency's popularity has made the euro more resilient than …