At the end of 2009, countries in the Eurozone began to experience a sudden divergence of bond yields as the market …, liquidity risk should be priced into both instruments in such a way that buying exposure to the same default risk is identically … priced. We use a time-varying vector autoregression framework to establish the credit and liquidity spreads interactions over …

sovereign credit default swap (CDS) market and the liquidity of the sovereign bond market for a group of Eurozone countries …At the end of 2009, countries in the Eurozone began to experience a sudden divergence of bond yields as the perceived … prospect of sovereign default risk increased. This paper examines the potential spillovers between the liquidity of the …

strong link is present between central bank liquidity support and sovereign holdings, opportunistic strategies or reach … advantage of their higher risk-bearing capacity to gain exposure (via central bank liquidity) to the set of riskier sovereign …

Echoes of History : The International Financial Commission in Greece / Michael Waibel -- The European Debt Crisis : How … and How to Escape from it / Ernst-Moritz Lipp -- Legal Analysis of the Eurozone Crisis / Christian Hofmann -- Reflections … of the European Stability Mechanism / Ludger Schuknecht -- Should Politics be Replaced by a Legal Proceeding? / Christoph …