Found 13 article(s) for author 'Greece'

The Euro Crisis: Where to From Here?

The Euro Crisis: Where to From Here? Jeffrey Frankel, May/June 2015, Opinion. “Germans cannot agree to unlimited bailouts of euro members.  On the other hand, if they had rigidly insisted on the founding principles (fiscal constraints, “no bailout clause,” and low inflation as the sole goal of the ECB), the euro would not have survived the post-2009 crisis.  The impact of fiscal austerity has been to raise debt/GDP ratios among periphery countries, not lower them.  The eurozone will endure, but through a lost decade of growth.   It would help if the ECB further eased monetary policy, which it could do by buying US treasury bonds…Link

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The Pathology of Europe’s Debt

The Pathology of Europe’s Debt. Benjamin Friedman, October 9, 2014, Paper. “The article focuses on debt crisis experienced by European Union countries in global financial crisis of 2008-2009. It highlights that the European Central Bank (ECB) lowered the interest rates and provided cheap loans to maintain money flows between European banks. It presents views of American economist James Tobin on the same and highlights supports given by France and Germany to governments of Portugal and Greece, allowing them to…” Link

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Financial Repression in the European Sovereign Debt Crisis

Financial Repression in the European Sovereign Debt Crisis. Victoria Ivashina , April 25, 2014, Paper. “By the end of 2013, the share of government debt held by the domestic banking sectors of Eurozone countries was more than twice its 2007 level. We show that this type of increasing reliance on the domestic banking sector for absorbing government bonds generates a crowding out of corporate lending. For a given domestic firm, new debt is less likely to be a loan—i.e., the loan supply contracts—when local banks have purchased more domestic sovereign debt and when that debt is risky (as measured by CDS spreads)…” Link Verified October 11, 2014

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