Cyprus, Greece, Ireland, Portugal, and Spain, ranging from roughly 0.5% (Ireland) to a whopping 43% (Greece) of2010 output … during the Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … be optimal from the perspective of the creditor country, even ex-ante, if it increases the risk of immediate insolvency …

Cyprus, Greece, Ireland, Portugal and Spain, ranging from roughly 0.5% (Ireland) to 43% (Greece) of 2011 output during the … recent Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … be optimal from the perspective of the creditor country, even ex-ante, if it increases the risk of immediate insolvency …

during the Eurozone sovereign crisis. We find that Fitch, the rating agency among the “Big Three” with significantly stronger … ties to Europe, was more reluctant than its two more US-tied peers to downgrade Eurozone countries during the crisis. The …

Cyprus, Greece, Ireland, Portugal, and Spain, ranging from roughly 0.5% (Ireland) to a whopping 43% (Greece) of 2010 output … during the Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … be optimal from the perspective of the creditor country, even ex-ante, if it increases the risk of immediate insolvency …

Cyprus, Greece, Ireland, Portugal and Spain, ranging from roughly 0.5% (Ireland) to 43% (Greece) of 2011 output during the … recent Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … be optimal from the perspective of the creditor country, even ex-ante, if it increases the risk of immediate insolvency …