year's subject of "Contagion and Spillovers – New Insights from the Crisis" turned out to be particularly topical, as first …

sparked an unprecedented sovereign debt crisis that rapidly spread to the Euro-Zone's weakest member states. As the crisis … increasingly drove a wedge between a seemingly resilient Euro-Zone core and its faltering periphery, its first collateral victims … were the private banks of the hardest-hit sovereigns. They were rapidly followed by the rest of the Euro-Zone's banks as a …

financial contagion, or by directly reducing the risk of financial crises. Differentiated capital controls are found to affect … market inflows, and openness to foreign bank entry are found to reduce the vulnerability to financial contagion. Finally …