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 …

This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … representation of euro area firms of small and medium size. Our findings suggest that, while firm balance sheet factors have been … firms located in stressed countries of the euro area. …

separately or by taking into account the joint evolution of their values. The data refer to ten countries in the Eurozone along …