Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of … tend not to take into account the policies of the European Central Bank. …

Aim/purpose - The aim of this paper is to present two cases of crises in Greece and Italy and to evaluate the shadow … sample covers Greece in 1989-2020 and Italy in 1989-2020. Findings - The research presented the estimation of shadow exchange … rates EUR/GRD and EUR/ITL during the euro zone membership period. Leaving the euro area one can expect the following market …

potential threat to sovereign bond market stability in the euro area; these markets had disintegrated during the “euro crisis …“. While several reforms related to the institutional architecture of the euro area, such as major parts of the banking union …, have been implemented successfully, the eminent design feature of the euro area that nourishes fragmentation and flight to …