of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …

Interim Report are systematically evaluated. We also deal with different governance visions emerging from the ongoing euro … area crisis and starts from different views of the ‘North and the South’ of the euro area on this issue. This contribution …

exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro …

We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends …, non-euro countries participating in the banking union will not be on equal footing with euro area members. Analysis …-capitalized backstops is established it may be optimal for a non-euro country to join the banking union upon the euro adoption. Assessing …

This paper comments on the pros and cons of exit strategies. The focus is on the impact on the Euro area economy of the … impact of the Fed’s exit from UMP in 2014 on the Euro area economy using new and innovative global IMF models. Finally …

be especially true for country-pairs that include euro area non-member countries and, thus, have quite different income …

market failures prevent SMEs in southern euro area countries from access to key inputs, in particular access to finance. This …Small and medium size enterprises (SMEs) of southern euro-area economies (e.g. Italy, Spain) pay significantly higher …

interbank and the capital market in the euro area. We then investigate potential side-effects of the LTROs such as the effects … banks in the euro area on ECB funding. …

in the context of the euro crisis. This move is then compared to the ECB’s now terminated Securities Market Programme …This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area …