After the inception of the euro, the real economy in most member countries remained dependent on credit by domestic …

Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in …

This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … characteristics. This allows us to study simultaneously the role that bank and firm weakness had in the credit reduction observed in … the euro area during the sovereign debt crisis, and in credit developments characterising the post-crisis recovery …

margin. This study contributes valuable insights into the efficacy of public credit support programs during crises …