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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
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Origins and resolution of financial crises : lessons from the current and Northern European crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10003843236
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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises
Ostrup, Finn - 2011
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10013134667
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Institutional Competition as an Alternative Mechanism for Harmonization in Monetary and Banking Unions
Khoury, sarkis - 2014
develop as a result of institutional competition. In other areas a minimum degree of harmonization may have to be imposed on … all members. Costs and benefits from harmonization and requirements for efficient institutional competition are discussed … bank insolvency procedures while other aspects of regulation would develop in institutional competition …
Persistent link: https://www.econbiz.de/10013043732
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Legal Aspects of the European Central Bank (ECB) - The ECB within the European System of Central Banks (ESCB) and the European System of Financial Supervision (ESFS) - Second (Exte...
Gortsos, Christos - 2018
The present study is structured in two Chapters – the first containing three Sections and the second two – as follows:(a) Chapter One focuses on the European Central Bank (ECB) within the European System of Central Banks (ESCB):• the first two Sections (A and B) briefly discuss the...
Persistent link: https://www.econbiz.de/10012921800
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Legal Aspects of the Single Monetary Policy in the Euro Area : From the Establishment of the Eurosystem to the Current Pandemic Crisis
Gortsos, Christos - 2021
The present University notes contain a brief presentation and analysis of the legal framework governing the single monetary policy in the euro area, as this developed from the establishment of the Eurosystem until today. It is structured in four Sections: Section A deals with the definition of...
Persistent link: https://www.econbiz.de/10013235124
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International Aspects of Central Banking : Diplomacy and Coordination
Kahn, Robert - 2016
In this paper, we discuss the evolution of central bank interactions since the early 1970s following the breakdown of the managed exchange-rate system that was negotiated at Bretton Woods. We review the most important forums or organizations through which central banks have engaged in diplomacy....
Persistent link: https://www.econbiz.de/10013210434
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The IMFs role in sovereign debt restructurings (ECB Occasional Paper No. 2021/262)
Committeri, Marco; Vonessen, Benjamin; Spadafora, Francesco - 2021
The global recession caused by the COVID-19 pandemic and the resulting deterioration in many countries’ public finances have increased the risk of sovereign debt crises. Although crisis prevention remains paramount, these developments have made it imperative to re-examine the adequacy of the...
Persistent link: https://www.econbiz.de/10013313846
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International aspects of central banking : diplomacy and coordination
Kahn, Robert B.; Meade, Ellen E. - 2016
In this paper, we discuss the evolution of central bank interactions since the early 1970s following the breakdown of the managed exchange-rate system that was negotiated at Bretton Woods. We review the most important forums or organizations through which central banks have engaged in diplomacy....
Persistent link: https://www.econbiz.de/10011578189
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German economic dominance within the Eurozone and Minsky's proposal for a shared burden between the hegemon and core economic powers
Ramirez Cisneros, Ignacio - 2018
There is no disputing Germany's dominant economic role within the eurozone (EZ) and the broader European Union. Economic leadership, however, entails responsibilities, especially in a world system of monetary production economies that compete with each other according to political and economic...
Persistent link: https://www.econbiz.de/10011899714