economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

This paper compares financial assistance programmes of four euro-area countries (Greece, Ireland, Portugal, and Cyprus …) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007 …, such as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of …

the period 1960Q1–2015Q4 capturing imbalances across credit, housing, bond and equity markets. The paper documents the … VAR models to assess interactions between external and internal macroeconomic imbalances suggest that financial cycles are … an important driver of business cycles and public debt dynamics, with much stronger shock transmission observed in the …

This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two … functions: in the short-term, stabilize financialmarkets and banks and, in the medium-term, help improve the euro area economic …

. The determinants include countries' external balance sheets, macroeconomic imbalances, and structural and global factors … to gauge the risk of external crisis: debt liabilities are the riskiest component, FDI liabilities are half as risky, and … FDI assets are the most protective. Macroeconomic imbalances increase risk but are usually not the key drivers of crises …

properties of international government debt are mostly driven by credit supply shocks. Demand factors appear to be less important … international government debt. …