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follows. First, Unlike the US subprime crisis which affected all European sovereign risks, the Greek crisis is largely a …
Persistent link: https://www.econbiz.de/10011731038
intensification of the euro area crisis in the summer and fall of 2011, these events weakened the banking system which was vulnerable … due to its exposure in Greece. Rather than deal with its ?scal crisis, the government secured a loan from the Russian … the February 2013 election. The strategy succeeded in delaying resolution of the crisis and avoiding short-term political …
Persistent link: https://www.econbiz.de/10010400778
We develop a dynamic recursive model where political and economic decisions interact, to study how excessive debt-GDP ratios affect political sustainability of prudent fiscal policies. Rent seeking groups make political decisions - to cooperate (or not) - on the allocation of fiscal budgets...
Persistent link: https://www.econbiz.de/10011302496
The paper differs from current literature by providing a systematic analysis of the relationship between sovereign debt, financial distress and political career concerns via a novel game-theoretic model, in order to analyze the strategic behavior of governments in revealing financial distress...
Persistent link: https://www.econbiz.de/10012803215
European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis … covering the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign …
Persistent link: https://www.econbiz.de/10012123037
This paper analyzes the trajectories of the Greek public deficit and sovereign debt over the last three decades and their connection to the political and economic environment, paying special attention to the causality between the public and the foreign deficit. The authors argue that, from 1980...
Persistent link: https://www.econbiz.de/10009773471
of the accumulation of Greece's public debt since the 1960s and the role of public debt in the recent crisis. We show … solution of the Greek and wider European crisis. A broader agenda that deals with the malaises of the Greek economy and the …
Persistent link: https://www.econbiz.de/10011481630
The paper discusses the trajectories of the Greek public deficit andsovereign debt between 1980 and 2010 and its connection to thepolitical and economic environment of the same period. We payspecial attention to the causality between the public and the externaldeficit in the period after 1995,...
Persistent link: https://www.econbiz.de/10010458220
the 2011-13 Euro crisis, the quality of services and level of regulation did not deteriorate or indeed improved …, increasing convergence with the core Euro countries. However, the debt crisis dramatically worsened citizens’ perceptions of … quality of governance as well as the level of social trust. The very different approach followed with the Covid crisis might …
Persistent link: https://www.econbiz.de/10012585461
accumulation rather than crisis dates and find that in both advanced and EMEs, corporate debt buildups cause more financial peaks …
Persistent link: https://www.econbiz.de/10011946955