This paper addresses a number of phenomena that characterize the euro area, one of them being the contagion effect. This is one of the mechanisms by which financial instability becomes so widespread that the crisis reached global dimensions. The following lines argue that contagion plays a...

This paper addresses a number of phenomena that characterize the euro area, one of them being the contagion effect. This is one of the mechanisms by which financial instability becomes so widespread that the crisis reached global dimensions. The following lines argue that contagion plays a...