This article analyses the role displayed by TARGET balances in the European Monetary Union (EMU). In the context of the European financial crisis, very large TARGET unbalances became crucial, reflecting funding stress in the banking systems of most crisis-hit countries. The increase in TARGET...

This paper discusses several key issues regarding the current Great Crisis, which has extended over two periods. The first period covered the 2007-09 subprime crisis in the US, while the second took the form of a twin sovereign debt and banking crisis in Europe after 2010, and persists until...

This paper discusses several key issues regarding the present European economic and financial Great Crisis, which essentially is a twin sovereign debt and banking crisis. The shift of the recent world financial crisis into a European sovereign debt crisis is tackled by analysing how via the...

This paper discusses several key issues regarding the current Great Crisis which spreads over two periods. The first includes the 2007-2009 subprime crisis in the US, while the second extended to a twin sovereign debt and banking crisis in Europe after 2010, and persists until now. At the core...

L'articolo analizza retrospettivamente dopo sette anni l'impatto che la pubblicazione del “Manifesto contro la disoccupazione nell'UE” ha avuto sulle politiche economiche attivate nei vari paesi europei. Dal lato dell'offerta, si prende atto che molti suggerimenti del “Manifesto” sono...

This paper addresses several key issues regarding the recent Great Crisis 2007- 2009. The main ones are: was the financial crisis predictable by standard economic models? If not, are these models lacking of forecasting capabilities, or it is not a task of economic models to predict external...

This book is devoted to the analysis of the three main financial crises that have marked this century: 2001 Argentina’s defaulting on its external debt, the American subprime crisis in 2008, and the current European debt crisis in Europe. The book pursues three major objectives: firstly, to...