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 …

How will sovereign debt markets evolve in the 21st century? We survey how the literature has responded to the eurozone … debt crisis, placing "lessons learned" in historical perspective. The crisis featured: (i) the return of debt problems to …-over problems and self-fulfilling crisis dynamics; (iv) severe debt distress without outright sovereign defaults; (v) large …

strengthen the EZ through at least four channels. -- sovereign debt crisis ; Eurozone ; Euro ; exit rules ; bail-out ; political … 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 …

-economic, game-theoretic model that helps to understand why and how the parties involved in the Greek crisis arrived at the bail-out …. -- Greek crisis ; bail-out ; negative externality ; political economics ; game theory ; euro ; EMU …The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the …

We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The … crisis and the first programme's (2010-11) failure were mainly the result of misguided internal policies. The second …

benign exit from the Eurozone with stable investor expectations could substantially dampen the short-run impact …

To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional … and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part … of ESM crisis assistance, we propose a two-stage mechanism that allows to postpone the fateful distinction between …

European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis … covering the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign …