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With the creation of the Economic and Monetary Union and the euro, the national government debt of eurozone member … monetization" rule, the one embraced by the eurozone was special, as it also prevented monetization on the secondary market for … debt. This made all eurozone public debt defaultable - at least until the European Central Bank (ECB) announced the …
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important EU economies (Germany, France, the UK, Italy, Spain) during the European debt crisis. The cross-correlation function … in the sovereign CDS market and also supports the view that the European debt crisis has so far had a limited non …
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