After the financial crisis had fully broken out in 2008 there were strong statements about the need for reforms. However, the official EU statements kept a lower profile from the beginning for several reasons. The existing structures and procedures have created a strong path dependency. This...

This article investigates the early signs of the impact of the 2008 crisis on fiscal convergence within the EU area. Over the 2004-2012 period we compare the convergence pattern before and after the crisis by considering the key fiscal aggregates and the main economic and functional components...

With the recent development of the Occupy Movement, public criticism of neoliberalism has climaxed since the onset of a global financial crisis in late 2008. The mobilization of protesters in cities throughout the world was preceded by much speculation in the media and blogosphere over the past...

Financial crisis is a systematically covering upset of financial markets and institutions financial sector, monetary circualtion, international finance, government, municipal and corporate finance. The phenomenon when the financial crisis can be shifted from one organization to another or even...

The discussion in this note seeks to preserve the beneficial features of securitization while mitigating those that may pose risks to financial stability. A comprehensive set of reforms—targeting both supply- and demand-side inefficiencies—will be needed to put securitization back...

This paper investigates the behavior of capital buffers of Australian banks to changes in the business cycle. More particularly, whether there is a behavioral difference between big and small banks, and whether the 2008-09 global financial crisis influenced bank behavior with respect to capital...

This paper aims to analyze the evolution of foreign direct investment in the economies of Brazil, Russia, India and China. These four economies known as BRIC economies, are considered the largest emerging economies, with a high potential to reach developed economies. The need, the importance and...

This policy letter sheds light on the economic and political backround in Cyprus and provides an analyses of the factors which lead to an intensification of the crisis there. It discusses the severe consequences of the errors made in the recent establishment of an adjustment program for Cyprus...

The role of deposit insurance and the design features of deposit insurance systems are undergoing important changes in light of the 2008/9 global crisis. Changes were made in order to restore the public confidence in the banking system, stop widespread bank runs during the crisis and increase...