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Is the ‘Euro Bond’ the Answer to the Euro Sovereign Debt Crisis? What Outcome Can Investors Expect Out of Europe?

Matziorinis, Kenneth N. - 2012

This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives …

Persistent link: https://www.econbiz.de/10013111171

Europe and Northeast Asia : different responses to financial crises

Wissenbach, Uwe - 2020

This paper focuses on the critical differences, but also some commonalities, between the EU and three countries in Northeast Asia - the People's Republic of China (PRC), the Republic of Korea, and Japan ‒ in responding to financial crises. The EU's response is naturally multilateral, but the...

Persistent link: https://www.econbiz.de/10012219782

Completing the monetary union of Europe as mid-term solution of the Euro crisis

Fischer, Justina A. V.; Pastore, Francesco - 2015

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....

Persistent link: https://www.econbiz.de/10011308548

Completing the Monetary Union of Europe as Mid-Term Solution of the Euro Crisis

Fischer, Justina A. V. - 2015

Persistent link: https://www.econbiz.de/10013016262

Eurosystem Debts Do Matter

Whittaker, John - 2016

Since September 2015, the European Central Bank has been publishing Target2 balances of the eurozone national central …) were written off, other eurozone countries would bear the loss, in addition to losses on official loans. There is no … effective mechanism for limiting eurosystem debts. And exit risk – the risk that Greece or some other eurozone country with …

Persistent link: https://www.econbiz.de/10013000026

Special issue: The European balance of payment crisis

Sinn, Hans-Werner (contributor) - 2012

Persistent link: https://www.econbiz.de/10009514498

Sovereign Debt : Now What?

Gelpern, Anna - 2016

The sovereign debt restructuring regime looks like it is coming apart. Changing patterns of capital flows, old creditors' weakening commitment to past practices, and other stakeholders' inability to take over, or coalesce behind a viable alternative, have challenged the regime from the moment it...

Persistent link: https://www.econbiz.de/10012985499

Courts and Sovereigns in the Pari Passu Goldmines

Gelpern, Anna - 2016

The pari passu clause in sovereign bond contracts has spawned an improbably huge academic literature and a fast-growing jurisprudence, culminating in recent U.S. federal court decisions, which used the clause to block payments on nearly $30 billion in Argentinian debt. The academic literature,...

Persistent link: https://www.econbiz.de/10012985848

Banks, Governments and Debt Crises

Gelpern, Anna - 2011

Financial institutions and governments the world over have been locked in mutual dependence since long before the crisis that began in 2007. Postcrisis reforms will not rid banks and governments of one another; at best, they may renegotiate the terms of engagement. This essay uses case studies...

Persistent link: https://www.econbiz.de/10013131748

Boilerplate Shock : Sovereign Debt Contracts as Incubators of Systemic Risk

Shill, Gregory H. - 2015

use in many correlated contracts that govern eurozone sovereign debt. Among other things, the collective character of … these terms means that a single, unexpected default might touch off cascade effects — a “run” — on other eurozone sovereign … might be called “boilerplate shock” in the eurozone and argues for expanding the study of contract externalities to include …

Persistent link: https://www.econbiz.de/10013034077

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