the sovereign risk premium. We show that a single EU bank resolution mechanism, European Stability Mechanism (ESM) direct …We propose a simple model that captures the link between bank and sovereign credit risk. It allows evaluating policy … government debt raises sovereign risk and in turn generates potential bank losses via their (sovereign) bond holdings. Hence, an …

nowadays fiscal policy can impact on the bank employment in European Union, not neglecting the regulatory bank environment and … of the bailed out bank to the private sector. The E.U. existing non-harmonized fiscal policy seems to leave the fiscal …

repression or moral suasion. By using a novel dataset on bank-level exposures to sovereign and private debt covering the entire … Eurozone crisis, I confirm that sovereign debt has been reallocated from foreign to domestic banks at the peak of the crisis …

have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering … the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign debt …

have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering … the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign debt …

European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis …, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset … covering the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign …

been interpreted as indicative evidence of moral suasion. By using a novel bank-level dataset covering the entire timeline … of the eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign debt from foreign to … key role in the recent fragmentation across eurozone debt markets …

European Central Bank. This study brings together in slightly edited form the four papers presented at the seminar and the …