What is the current state of sovereign credit risk across Euro zone? Does the recent fiscal crisis extend to other (non … Euro zone) countries? Is Greece the center of the problem? How did the current fiscal crisis in the Euro area start? Who is … behind it? Why can it evolve? How can it be addressed? And, is a fiscally-challenged country likely to want to leave the Euro …

policies that focuses on what the ECB says about the future economic outlook for the euro area along five different economic … monetary policy is the euro area-US differential than when any other proxy for monetary policy is employed …

We use quanto credit default swaps to analyze the impact of a credit event in the Euro zone on the Euro-Dollar exchange … credit event if the payment in such an event is denominated in US-Dollar rather than in Euro, because they expect the Euro to … conditional on a credit event of a member of the Euro zone. We find that the implied effect is quite heterogeneous across the …

This brief provides a short guiding tour to the Euro zone crisis. It looks at the current situation, the context in … of minimum steps required to make the euro sustainable …

This paper reviews the debate on the longer-term requirements for safeguarding the euro as a currency beyond the state … financial governance in the wake of the euro area crisis goes a long way towards creating the minimum conditions for a more … required' to stabilise the euro area as a whole rather than sharing their sovereignty in common institutions to achieve this …

This paper analyses developments in the Greek economy before and after the euro. The main thesis is that the imbalances … to the euro area with major structural and fiscal imbalances and low and deteriorating international competitiveness, led … domestic political and social constraints, both before and after euro area entry. In view of the institutional weaknesses of …

economic implications, have become more evident in the global economic crisis. The euro has served as a shield during the … made the euro more attractive, and most EU countries that are not yet members of EMU are expected to join during the next …