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). This paper conducts an aggregate analysis of the debt positions of the euro area countries, taking account not only of the … analysis, it emerges that euro area countries differ extensively in terms of their total net debt. In a context of hampered …The recent developments in the euro area have shown how important it is that the various economic sectors pay attention …
Persistent link: https://www.econbiz.de/10010764531
This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when … working as lender of last resort for the euro area member States; indeed, only when the ECB took this responsibility by … launching the Outright Monetary Transactions clear signs of improvement were observed in the sovereign debt crisis. …
Persistent link: https://www.econbiz.de/10011408880
The paper provides an account of the meaning and implications of TARGET2 in the eurozone (EZ) balance of payments crisis. In this context, it discusses Hans-Werner Sinn's thesis about a stealth bail-out of the EZ periphery by the ECB from a heterodox perspective. Financial liberalisation, a...
Persistent link: https://www.econbiz.de/10014363189
This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when … working as lender of last resort for the euro area member States; indeed, only when the ECB took this responsibility by … launching the Outright Monetary Transactions clear signs of improvement were observed in the sovereign debt crisis. …
Persistent link: https://www.econbiz.de/10011708994
This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis. The … sovereign debt crisis, while some countries, among which Germany, registered a decisive inflow of monetary base, some others, as …
Persistent link: https://www.econbiz.de/10011259805
deflationary Euro-bias. …
Persistent link: https://www.econbiz.de/10010641397
This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of...
Persistent link: https://www.econbiz.de/10009363829
euro and the other major international currencies. …
Persistent link: https://www.econbiz.de/10014363322
In response to our paper, 'ECB monetary expansions and euro area TARGET2 imbalances: a balance …
Persistent link: https://www.econbiz.de/10014363348
not an optimum currency area. The second part points out that euro is an intensifier of the business cycle. The third part … examines the Greek crisis. The fourth part explains the inner tensions in the eurozone. The fifth part asks whether euro is … suitable for the countries of Central and East Europe. The sixth part examines the debt crisis within the eurozone. …
Persistent link: https://www.econbiz.de/10011213846