Bundeskanzlerin Angela Merkel sagte am 10. Mai, nachdem die EU-Finanzminister einen gigantischen Rettungsschirm für den Euro beschlossen hatten: "Wir schützen das Geld der Menschen in Deutschland." Die Datenlage zeigt allerdings nicht, dass der Euro tatsächlich in großer Gefahr war. Die...

Stress in the interbank market has increased dramatically since July and bank stock market valuation has fallen by 22 percent on average for 60 of the most important banks tested in the EBA stress tests. I find evidence that bank stock valuation is significantly and economically meaningfully...

In this paper we investigate the relationship between the volatility of Greek interbank rates and the level of rates by estimating the important CKLS interest rate model using the estimation method of (Nowman,1997). We also estimate the interest rate models of Merton, Vasicek, CIRSR, Dothan,...