, which have developed in recent years with economic, financial and sovereign debt crises. While the contributions included …

Since the onset of the eurozone sovereign debt crisis, credit risk spreads in Europe have diverged. Despite this … eurozone countries during the sovereign debt crisis. We find strong evidence for both fundamentals and nonfundamentals based … divergence, credit risk comoves strongly within certain country groups such as the eurozone periphery. We seek to answer what the …