). 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 …

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. …

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. …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

euro and the other major international currencies. …

In response to our paper, 'ECB monetary expansions and euro area TARGET2 imbalances: a balance …

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. …

over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area … tends to be more balanced when nominal exchange rates are flexible. Intra-euro area imbalances also seem to have become more … persistent with the introduction of the euro, some of which is linked to labor market inflexibility. Reviewing the direction of …