countries which chose not to enter the Eurozone. There was also a strong convergence in the cost of equity across the different …

potential threat to sovereign bond market stability in the euro area; these markets had disintegrated during the “euro crisis … longer capable of issuing bonds under their own exclusive monetary control. Thus, integrating euro area sovereign bond …

foster additional non-bank sources of finance, mobilize private savings more efficiently and enhance capital market … finances. In a CMU sovereign risks have to be treated adequately in bank regulation. Third, it should be assessed in advance … which sources of non-bank finance will be demanded by companies and will become systemic. We recommend an integrated …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank. …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank …

This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that …