periphery of the euro area. This explanation is however totally inappropriate for Italy. Indeed this note shows that the bank of …Since August 2014 the Target2 liabilities of the Bank of Italy to the Eurosystem are on an upward trend. From August … liabilities of peripheral countries of the euro area would be a purely mechanical consequence of the QE, without implying any …

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …

On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a …

The crisis in Greece and other mainly Southern euro zone countries has been discussed primarily as a fiscal issue … fiscal deficits. We argue that the failure of many countries within the euro zone to develop adequate internal adjustment … crisis, we present data that supports our argument by demonstrating the lack of price and cost convergence in the euro zone …

This paper studies the impact of credit rating agency (CRA) announcements on the value of the Euro and the yields of … French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011 …-2012. The employed GARCH models show that CRA downgrade announcements negatively affected the value of the Euro currency and …