Eurozone in two parts. Part I explains why limited liability may have resulted in excessive debt accumulation: A commitment …

The financial crisis of 2007-2009 led to a renewed increase in government deficits and debts in many EU countries …, causing a full-fledged fiscal crisis in Greece and severe fiscal pressures in other euro-area countries. This has prompted a …

The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and … monetary integration and even monetary unification in various parts of the world, including East Asia, the current crisis has … had the opposite effect, even raising expectations of a breakup of the euro area. Indeed, the crisis has highlighted the …

The financial crisis has exposed the need to devise stronger and broader international and regional safety nets in …

of the euro area crisis in the summer and fall of 2011, these events weakened the banking system which was vulnerable due … to its exposure in Greece. Rather than deal with its ?scal crisis, the government secured a loan from the Russian … the February 2013 election. The strategy succeeded in delaying resolution of the crisis and avoiding short-term political …