in a small country seems to be a currency board with a fixed exchange rate that can be adapted in case of a crisis. A …

Kann der Euro auf Dauer nur überleben, wenn in einer Übergangsphase flexible Kurse zwischen den Euroländern eingeführt … Griechenlands aus den Euro. Die Rückkehr zu einer früheren Währung könnte den kaum erwünschten Eindruck erwecken, das Rad der … Geschichte werde zurückgedreht. Dies würde psychologisch die Position von Griechenland kaum verbessern. Wenn der griechische Euro …

To counter the sharp appreciation of the Swiss franc that set in in the wake of the European sovereign debt crisis, on …

Swiss National Bank would prevent the Swiss franc from appreciating beyond 1.20 to the euro muted the sensitivity of EUR …

information about the nature of the recent crisis. Contagions can be defined as increased correlations during periods of crisis … during the crisis era. These results support the idea of avoiding lending in reserve currencies …

- and US-Dollar nominated sovereign bonds of euro-area countries during the euro-crisis and concludes that the probability …This paper analyzes by using a simple theoretical model and thereafter testing empirically the differences between Euro … of collapse of the Euro(-currency) has a significant impact on these differences. Moreover, the empirical analysis …

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 …