euro and the other major international currencies. …

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

maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in … centrifugal forces become that ultimately might break up the single currency. Instead of a fiscal union, a euro …

maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in … centrifugal forces become that ultimately might break up the single currency. Instead of a fiscal union, a euro …

lessons from the financial crisis and global recession were being drawn, while concerns about Greece's government debt … problems were threatening to spread to other countries within the euro area, with potential negative repercussions for the euro …

crisis for the euro area as a whole that demanded policy conditionality on all members of the euro area …

This paper analyzes the Euro crisis in light of the experience of center-periphery relations over the last 40 years of … the center. Financial institutions at the center play a crucial role. The “boom” phase leads to serious imbalances in the … institutions provide some fraction of the debt service to borrowing governments in the form of new debt, for them to add to the …

In 2007, countries in the euro periphery were enjoying stable growth, low deficits and low spreads. Then the financial … crisis erupted and pushed them into deep recession, raising their deficits and debt levels. By 2010, they were facing severe … debt problems. Spreads increased and, surprisingly, so did the share of the debt held by domestic creditors. Credit was …