We study the financing policies of European public corporations prior to the euro crisis. Using data from eleven euro … countries and a control group of five other European countries over 1991-2006, we show that non-financial firms from euro … countries with previously weak currencies considerably increased their debt financing after the introduction of the euro. The …

Private sector borrowing has been identified as a major factor behind the euro crisis. We study the contribution of non …-financial public corporations to this finding. Using data from eleven euro countries and a control group of five other European … countries over 1991-2006, we show that firms from euro countries with previously weak currencies considerably increased their …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

the Euro has replaced the national currencies. This situation has caused concern from the very beginning. Unless achieving … harmonization on application of monetary and fiscal policies, there might be problems on economic activities. Euro which has emerged … down for monetary union by the countries that are included in the euro area in the European Unions enlargement process …

The Euro zone debt crisis has indeed jeopardized the recovery plans put in place post global crisis by regulators …

the rate of monetary and financial systems integration deployed within the Euro area is not sustainable in the long run …. Instead of acting as a buffer against external shocks and internal imbalances within the Euro area, the common currency has … a disorderly unwinding of the Euro area over time and the accumulation of significant long-term economic costs of …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have …