Three Essays on the European Sovereign Debt Crisis with a Special Focus on Greece - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Three Essays on the European Sovereign Debt Crisis with a Special Focus on Greece write by Flora Leventi. This book was released on 2017. Three Essays on the European Sovereign Debt Crisis with a Special Focus on Greece available in PDF, EPUB and Kindle.
Reflections on the Greek Sovereign Debt Crisis
Reflections on the Greek Sovereign Debt Crisis - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Reflections on the Greek Sovereign Debt Crisis write by Aristidis Bitzenis. This book was released on 2014-09-26. Reflections on the Greek Sovereign Debt Crisis available in PDF, EPUB and Kindle. The euro was generally considered a success in its first decade. Nevertheless, the “unanticipated” financial crisis in the summer of 2007 has developed gradually into the worst global economic crisis in post-war economic history and a sovereign debt crisis, calling into question the endurance of positive externalities under the current form of European economic integration. The experience of double-dip recessions in the core of the euro-area and the occurrence of a deflationary spiral in its southern periphery brings into question the wisdom of fiscal consolidation via austerity in the adjustment programmes adopted to exit the crisis. They also put into doubt the adequacy and efficiency of the European Economic and Monetary Union’s core elements, its political instruments and macroeconomic assumptions, as can be seen in the role of the Stability and Growth Pact and the stance of the European Central Bank. The title of this collective volume refers to the country where the European sovereign debt crisis began, while its contents concentrate on the extent to which this crisis should be a national or a European concern. Moreover, the focus on Greece stimulates discussion about the neglected factor of the shadow economy and the potential to boost government revenue through its successful transfer to the formal economy. The chapters address the inefficiencies of both euro-area institutions and policies adopted to exit the current predicament. Experts from several disciplines review the literature and critically evaluate the existence of issues such as contagion effects, domino effects, deflationary spirals, institutional efficiency and the reality of the option to exit the euro-area.
Sovereign Debt Restructurings 1950-2010
Sovereign Debt Restructurings 1950-2010 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Sovereign Debt Restructurings 1950-2010 write by Mr.Udaibir S. Das. This book was released on 2012-08-01. Sovereign Debt Restructurings 1950-2010 available in PDF, EPUB and Kindle. This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Laid Low
Laid Low - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Laid Low write by Paul Blustein. This book was released on 2016-10-17. Laid Low available in PDF, EPUB and Kindle. The latest book by journalist and author Paul Blustein to go behind the scenes at the highest levels of global economic policy making, Laid Low chronicles the International Monetary Fund’s role in the euro-zone crisis. Based on interviews with a wide range of participants and scrutiny of thousands of documents, the book tells how the IMF joined in bailouts that all too often piled debt atop debt and imposed excessively harsh conditions on crisis-stricken countries. As the author shows, IMF officials had grave misgivings about a number of these rescues, but went along at the insistence of powerful European policy makers — to the detriment of the Fund’s credibility, with disheartening implications for the management of future crises. The narrative ends with a tale of the clash between Greece’s radical Syriza government and the country’s creditor institutions that reached a dramatic climax in the summer of 2015.
The Global Financial Crisis
The Global Financial Crisis - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Global Financial Crisis write by George K. Zestos. This book was released on 2015-10-05. The Global Financial Crisis available in PDF, EPUB and Kindle. Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures. The detrimental social effects of the crisis in both the US and Europe are still emerging. Although there have been several studies published on the US crisis in particular, there has so far been an absence of an accessible comparative overview of both crises. This insightful text aims to fill this gap, offering a critical overview of causes, policy responses, effects and future implications. Starting with the historical context and mutation of the crisis, the book explores the policies, regulations, and governance reforms that have been implemented to cope with the US subprime mortgage crisis. A parallel analysis considers the causes of the European sovereign debt crisis and the responses of the European Union (EU), examining why the EU is as yet unable to resolve the crisis. This book is supported with eResources that include essay questions and class discussion questions in order to assist students in their understanding. This uniquely comprehensive and readable overview will be of interest and relevance to those studying financial crises, financial governance, international economics and international political economy.
