periphery of the euro area. This explanation is however totally inappropriate for Italy. Indeed this note shows that the bank of …Since August 2014 the Target2 liabilities of the Bank of Italy to the Eurosystem are on an upward trend. From August … liabilities of peripheral countries of the euro area would be a purely mechanical consequence of the QE, without implying any …

This paper considers the benefits to Greece, the Euro zone and the rest of the world arising from policies that prevent … a Greek default and exit from the Euro, compares these benefits with the costs of the preventive policies and concludes … that the benefits exceed the costs. The rational case for policies to save Greece, however, may lose out to unpredictable …

. Greece joined the EU on January 1, 2001, adopting the Euro at a conversion rate of 340.75 Drachmas per Euro.From 1995 … disadvantaged by EU membership, by switching to the Euro, and by subsequent austerity measures; or (2) Greece accumulated excessive … rate that would have prevailed if Greece had not adopted the Euro. Under a Drachma regime, I assume that Greek policymakers …

macroeconomic policies in Greece are considered. The model's mechanism and assumptions allow either for a Grexit from the euro area …Against the backdrop of the Greek three-act tragedy, we present a theoretical framework for studying Greece’s recent … debt and currency crisis. The model is built on two essential blocks: first, erratic macroeconomic policymaking in Greece …

Aim/purpose - The aim of this paper is to present two cases of crises in Greece and Italy and to evaluate the shadow … sample covers Greece in 1989-2020 and Italy in 1989-2020. Findings - The research presented the estimation of shadow exchange … rates EUR/GRD and EUR/ITL during the euro zone membership period. Leaving the euro area one can expect the following market …

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …

sovereign bailouts -- in the euro-area that would have reduced members’ external imbalances. This situation contrasts sharply …