The present financial crisis is the outburst of tensions accumulated in time in the banking and financial systems. Though its causes resemble past crisis it has certain characteristics that demand a new approach. The high contagion effects as well as the implications on the real economy need...

The subject raises a huge interest in international circles, be it research groups, financial institutions or public decision makers due to market globalization and integration which trigger the risks that are spread from one market to the other through intensive financial flows. The definition...