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Die sogenannte "No-Bail-Out-Klausel" des Art. 125 AEUV verbietet einen Einstand der Union oder der Mitgliedstaaten für die Schulden oder Verbindlichkeiten eines anderen Mitgliedstaates. Auf Druck der deutschen Verhandlungsführer wurde die Nichtbeistands-Klausel mit dem Vertrag von Maastricht...
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Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster … solvency and closing the competitiveness gap. Yet we think Greece stands a better chance of accomplishing these goals from …
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Greece's debt-to-GDP ratio is reaching unsustainable levels. But why should the debt load of such a small country cause …
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the future prosperity of Greece and its ability to honour the obligations it has already taken on …
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In 2010, excessive public spending produced the first sovereign bond market crisis in Europe: Greece. The Hellenic …. Information about Greece is scarce and fragmented, but the inability of the European authorities to understand the incredible … of Greece supports the need for hedging tools such as Credit Default Swap (CDS). However, there is evidence that the CDS …
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We assess the role of financial linkages in the transmission of sovereign risk in the Euro Crisis. Building on the narrative approach by Romer and Romer (1989), we use financial news to identify structural shocks in a vector autoregressive model of daily sovereign CDS premia for eleven European...
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