Greater financial integration between core and peripheral EMU members had an effect on both sets of countries. Lower …. Core EMU countries took on extra foreign leverage to expose themselves to the peripherals. The result has been asset …’s introduction, Core EMU countries increased their borrowing from outside of EMU and their lending to the EMU periphery. …

Greater financial integration between core and peripheral EMU members had an effect on both sets of countries. Lower …. Core EMU countries took on extra foreign leverage to expose themselves to the peripherals. The result has been asset …'s introduction, Core EMU countries increased their borrowing from outside of EMU and their lending to the EMU periphery. …

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries …, which inflated their economies by allowing credit booms. Core EMU countries took on extra foreign leverage to expose …'s introduction, core EMU countries increased their borrowing from outside of EMU and their lending to the EMU periphery. Moreover, we …