Früher einmal ein überzeugter Anhänger des Euro fürchte ich nun, dass uns der Euro zur Übernahme von Schulden … verurteilt, die andere Staaten verursacht haben. Denn mit dem Euro-Schutzschild wurde aus einer Wettbewerbsgemeinschaft eine … proklamierte Ausspruch "Scheitert der Euro, scheitert Europa" ist nicht nur falsch, sondern auch leichtsinnig und verantwortungslos …

The crisis in the Euro Zone is due to two factors: over-borrowing by some states and credit booms in others. The … architecture of the Euro remains incomplete, due to lack of enforcement of fiscal discipline and an integrated bank supervision … Euro needs once more a transition phase with a gradual fiscal and asymmetric adjustment with a decisive intervention by …

The euro is widely believed to be a currency without a sovereign state. To make the euro a stable currency, many … this paper that the EU and the euro area member states are the joint sovereign behind the euro. The EU is not a state, but …, the euro should be regarded as a currency beyond the state. For the euro to have a stable sovereign, however, further …

.Instead, the budgetary situation in the euro countries is getting worse, the disparities in economic development are increasing … rather than diminishing, thereby endangering the stability of the euro and thus the future of the single currency.There is an …

What is the current state of sovereign credit risk across Euro zone? Does the recent fiscal crisis extend to other (non … Euro zone) countries? Is Greece the center of the problem? How did the current fiscal crisis in the Euro area start? Who is … behind it? Why can it evolve? How can it be addressed? And, is a fiscally-challenged country likely to want to leave the Euro …

Con la crisi del debito dell'Eurozona il rischio sovrano sulle obbligazioni governative dei paesi area Euro e …' radicalmente mutato. I fondi obbligazionari governativi area Euro investono proprio in questi strumenti finanziari e costituiscono … incremento del rischio sovrano di portafoglio.The default risk on Euro area sovereign bonds has significantly changed during the …

We use quanto credit default swaps to analyze the impact of a credit event in the Euro zone on the Euro-Dollar exchange … credit event if the payment in such an event is denominated in US-Dollar rather than in Euro, because they expect the Euro to … conditional on a credit event of a member of the Euro zone. We find that the implied effect is quite heterogeneous across the …