and heightened volatility in its currency. This paper shows that not only the creditworthiness of the euro-area countries … determinants of the deep out-of-the-money euro put option prices, which embedded information on the euro crash risk during the …

Evaluation of the financial costs of a Eurozone breakup depends critically on the interpretation of TARGET balances …. While it has been argued that TARGET claims in the Eurozone can be written off without incurring any losses on the claimants …

This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that … the euro's survival. The crisis in Euroland poses a global “too big to fail” threat, and presents a moral hazard of …

For the euro debt crisis, we assess the relevance of financial contagion from an investor perspective. We find that … events does not add information to a standard analysis of risk. Hence, contagion in the euro debt crisis appears to bear …

We identify crucial events during the European sovereign debt crisis and investigate their impact on the euro currency …. In particular, we analyze how specific announcements related to vulnerable Eurozone member states, European Central Bank … (ECB) actions, and credit rating downgrades affect the value and the crash risk of the euro. We proxy the value changes of …

Before the beginning of the euro-area crisis, fees (premiums) for Credit Default Swaps (CDS) for the same entity … (country) but nominated in different currencies were nearly equal. This is still true for non-euro area countries during the … crisis; but these differences increased dramatically for euro-area countries since the beginning of the crisis. For some euro …

"Discusses how the 2008 financial crisis revealed the shortcomings of the euro and how it has caused Europe's economic …