The 2008 global financial crisis spread to most of the developed economies, including those of the European Union …. Unfortunately, despite decades of effort to build a Single Financial Market, almost all EU jurisdictions lacked proper crisis … resolution mechanisms, especially with respect to the cross-border dimensions of a global crisis. This led to a threat of …

sovereign debt crisis. A dynamic conditional correlation (DCC) multivariate GARCH model is used to estimate to what extent the … this crisis. During the Irish financial crisis from 2007 to 2010, strong contagion effects are uncovered between Irish …, should be considered as a primary response function in future cases of sovereign debt crisis. …