We examine whether pre-crisis bank characteristics explain state support to European banks during the global financial crisis. We show that, before the crisis, supported and non-supported banks differ in numerous aspects and the differences reflect bank characteristics at the core of the...

pt. 1. Introduction -- pt. 2. Solutions in America and Asia -- pt. 3. Solutions in Europe -- pt. 4. Impacts and responses in the BRICs -- pt. 5. Impacts and responses in developing countries -- pt. 6. Innovation in global economic governance -- pt. 7. From G8 to G20 -- pt. 8. Conclusion.

The close economic ties between Europe and the United States and the crucial global monetary and financial role played by the City of London were the conduits for the lightning-fast spread of the crisis triggered by the sub-prime mortgage defaults in the U.S. and the consequent fall in global...