Using a sample of European banks, this paper examines the link between disclosure and its economic consequences. We … exploit an exogenous cost of capital shock created by the Greek Sovereign Debt Crisis and analyze banks' disclosure responses … particular the risk reporting. The increase in risk disclosure is mainly attributable to enhanced disclosure on credit risk …

The European central bank is a bank of banks but not a bank of states. This reduces the capabilities of member states … to finance deficits. The role of the central bank to cope with the debt crises is institutionally more limited than in … countries in the Eurozone. Eurobonds could increase lending capacities but would require a change of the European treaty, which …

This paper examines the contagion of the eurozone debt crisis to developed and emerging stock markets around the world … eurozone debt crisis, this paper finds strong and pervasive evidence of negative contagion from the crisis countries to other … crisis. The Asian markets do not show pervasive evidence of contagion from the eurozone crisis …