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 …

The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio … realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A value …-added of these calculations lies in a potential transfer to smaller euro area member countries. -- Euro area debt crisis ; debt …

reforms have not yet taken hold. The EU-led macroeconomic adjustment programmes outside the euro area (e.g. Latvia) seem to …

economic terms but also for fundamental reasons such as greater market power of its enterprises. Other studies on different …

The asset purchase programme of the euro area, active between 2015 and 2018, constitutes an interesting special case of … Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area … incompatible with the observation that risk spreads on peripheral bonds fell when QE in the euro area was announced. However, the …