systemic financial crisis. During the Great Recession, failing market risk-sharing was replaced by the ECB through the cross …-border payments system TARGET and by troika programs. We conclude that public safety nets must be robust enough to substitute for … Zahlungssystems TARGET kompensierte; Troika-Programme trugen ebenfalls zur Risikoteilung bei. Unsere Schlussfolgerung lautet, dass …

whose central bank has exclusively an inflation target and cannot act as a lender of last resort in the Member States is … the Target 2 balances of countries such as Germany and Italy - requires a profound rethinking of the European project in …

whose central bank has exclusively an inflation target and cannot act as a lender of last resort in the Member States is … the Target 2 balances of countries such as Germany and Italy - requires a profound rethinking of the European project in …

financial and economic crisis. On the one side, we underline the increasing role of the emerging countries (especially that of … extremely high in India and Brazil. During the world financial and economic crisis, the authorities and companies, both public … possible, as the emerging countries entered the global crisis with strong macroeconomic and financial positions. As a matter of …

to a deadlock as the global financial and economic crisis broke out in 2008. The expansion of cheap credit, market …. The anti-crisis measures came without delay, but they did not produce the expected results. At the Euro Zone level, an … almost immediate and direct effect of the crisis and the accompanying countercyclical fiscal measures was that of enhancing …

to a deadlock as the global financial and economic crisis broke out in 2008. The expansion of cheap credit, market …. The anti-crisis measures came without delay, but they did not produce the expected results. At the Euro Zone level, an … almost immediate and direct effect of the crisis and the accompanying countercyclical fiscal measures was that of enhancing …

The euro area is facing crisis, while the US is not, though the overall fiscal situation and outlook is better in the …

The euro area is facing crisis, while the US is not, though the overall fiscal situation and outlook is better in the …