Die internationale Finanz- und Wirtschaftskrise beeinflusste das Spannungsverhältnis zwischen Solidarität und Wettbewerb in der Europäischen Union in zweierlei Hinsicht. Zum einen drängten die Regierungen der europäischen Mitgliedstaaten darauf, ihre notleidenden Banken (aber auch...

We show that an increase in banks' holdings of domestic Sovereign debt decreases the ability of domestic Sovereigns to successfully enact bailouts. When Sovereigns finance bailouts with newly issued debt and the price of Sovereign debt is sensitive to unanticipated debt issues, then bailouts...

This paper shows that an increase in banks' holdings of domestic sovereign debt decreases the ability of domestic sovereigns to successfully enact bailouts. When sovereigns finance bailouts with newly issued debt and the price of sovereign debt is sensitive to unanticipated debt issues, then...

We show that an increase in banks' holdings of domestic sovereign debt decreases the ability of domestic sovereigns to successfully enact bailouts. When sovereigns finance bailouts with newly issued debt and the price of sovereign debt is sensitive to unanticipated debt issues, then bailouts...