intensification 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 …

intensification 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 fiscal 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 …

This paper explores the dominant role of politics in decisions made by euro area governments during the crisis … discussed. The domination of politics over economics has led to crisis mismanagement. The underlying cause of tension is … noncooperative manner. This has magnified the costs of the crisis and has resulted in an unbalanced and divisive incidence of the …

Why did Europe fail to manage the euro area crisis and what lessons can be drawn from this failure for Europe's future …? Studying the EU/IMF program that was imposed on Greece in May 2010 — the original sin of the crisis — highlights both the …

follows. First, Unlike the US subprime crisis which affected all European sovereign risks, the Greek crisis is largely a …

mechanisms that will help them better prepare for the possibility of crisis. In effect, the choice is whether to buy insurance … against a crisis not as an indication of prudent governance but rather as an indicator that a crisis is imminent. In this …

future, its introduction would risk pushing Europe back into acute crisis. But the indefinite postponement of reform would im …

This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives …