This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that … monetary union and other assets. We firstly analyse a country's debt choice, assuming as a benchmark case that the no-bailout …

-economic, game-theoretic model that helps to understand why and how the parties involved in the Greek crisis arrived at the bail-out …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the … political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our …

essence of today's crisis we analyze to what extent a ‘troubled' periphery EZ member can negotiate a bailout from the center …This paper argues that the key issue for defining and solving the Eurozone's (EZ) difficulties lies in readjusting the …

self-fulfilling multiple equilibria arise.I analyze the implications of this fragility for the governance of the Eurozone …

Since the beginning of 2010, the Euro Area faces a severe sovereign debt crisis, now generally known as the Euro Crisis …. While the Euro Crisis has its origin in Greece, problems have now spread to several other European countries as well … the Euro Crisis, or if the countries' problems are instead due to fundamental problems in the affected economies. Our …

characterised by a weakened link between spreads and fundamentals, but with higher spreads relative to the pre-crisis period and …

after the onset of the sovereign crisis in Europe …

German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what … the German government pushed during the Eurozone crisis have been informed by the ordoliberal tradition. In particular … extent this contention holds and to what extent Germany pragmatically responded to different crisis phenomena. A proper …

, or corporate bonds. Hence, our findings attest to the power of central bank intervention in times of crisis, but also …