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Personal Debt In Europe
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Book Synopsis Consumer Debt and Social Exclusion in Europe by : Hans-W. Micklitz
Download or read book Consumer Debt and Social Exclusion in Europe written by Hans-W. Micklitz and published by Routledge. This book was released on 2016-03-09 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the dichotomy between the goal of social inclusion and the effect of social exclusion through over-indebtedness since 2008 in Europe. Filling a vital gap in the current literature on the effects of the financial and economic crisis, this volume puts into context academic discussion with the real-life dimension of over-indebtedness. Reports from six European countries provide socio-economic and legal information on over-indebtedness as well as the regulatory and judicial responses to the problems entailed by over-indebtedness. They form the empirical background for five analyses of different aspects of the inclusion-exclusion dichotomy. It becomes clear that in the context of credit expansion, individual over-indebtedness has turned into a social issue, which the current design of the consumer credit and mortgage system in Europe has helped to produce while disregarding the consequential danger of social exclusion.
Book Synopsis Personal Debt in Europe by : Federico Ferretti
Download or read book Personal Debt in Europe written by Federico Ferretti and published by Cambridge University Press. This book was released on 2019-04-25 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyses personal debt and the over-indebtedness of consumers in the European Union from the multi-disciplinary perspectives of economics, policy, and law.
Book Synopsis Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox by : Ms.Yan Liu
Download or read book Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox written by Ms.Yan Liu and published by International Monetary Fund. This book was released on 2013-02-20 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and—in some cases—institutional arrangements to deal with over-indebtedness. For households, where the problem in some countries is large but no established best practice exists, reforms have generally sought to allow debtors a fresh start while minimizing moral hazard and preserving bank solvency and credit discipline. For the corporate sector, efforts have focused on facilitating debt restruturing (including through out of court mechanisms). Direct government intervention has been rare.
Book Synopsis Consumer Debt and Social Exclusion in Europe by : Hans-W. Micklitz
Download or read book Consumer Debt and Social Exclusion in Europe written by Hans-W. Micklitz and published by Lund Humphries Publishers. This book was released on 2015-06-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the dichotomy between the goal of social inclusion and the effect of social exclusion through over-indebtedness since 2008 in Europe. Filling a vital gap in the current literature on the effects of the financial and economic crisis, this volume puts into context academic discussion with the real-life dimension of over-indebtedness. Reports from six European countries provide socio-economic and legal information on over-indebtedness as well as the regulatory and judicial responses to the problems entailed by over-indebtedness. They form the empirical background for five analyses of different aspects of the inclusion-exclusion dichotomy. It becomes clear that in the context of credit expansion, individual over-indebtedness has turned into a social issue, which the current design of the consumer credit and mortgage system in Europe has helped to produce while disregarding the consequential danger of social exclusion.
Book Synopsis Addressing Household Over-indebtedness by : Hans Dubois
Download or read book Addressing Household Over-indebtedness written by Hans Dubois and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The issue of over-indebtedness continues to be a concern, particularly among some population groups and in Member States where recent increases can be observed. This report provides an overview of the main causes, triggers and consequences of household over-indebtedness, including the costs to society. It then examines two policy responses in the EU and Norway: debt advisory services and debt settlement procedures. While the findings show that in the wake of the global financial crisis, such services and procedures have generally become more widely available and accessible, gaps remain. The overall aim of the report is to draw the attention of national and EU-level policymakers to ways to improve policy responses to household over-indebtedness. This report examines debt advisory services and debt settlement procedures across the EU and Norway. Following the global financial crisis, these services and procedures are more widely available in many Member States. However, there are gaps in terms of access. By learning from practices across the EU, there is an opportunity at regional, national and EU levels to develop policies that serve to address household indebtedness.
Book Synopsis Comparative Perspectives of Consumer Over-indebtedness by : Federico Ferretti
Download or read book Comparative Perspectives of Consumer Over-indebtedness written by Federico Ferretti and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The over-indebtedness of consumers and their inability to repay their debts is the focus of this timely study. With a large number of people having excessive debt levels across Europe, this not only impacts badly on the lives of those who are affected, but it also carries great social and economic costs. Therefore, it has become a concern for both national and EU policy-makers and it requires adequate legal responses for the prevention of the problem and the alleviation of its effects. Responsible credit and personal insolvency are the main solutions discussed, alongside other practical aspects. This collection of edited multidisciplinary essays is a selection of papers emanating from a range of presentations delivered by recognised national academic and non-academic experts representing a diversity of interests in the UK, Germany, Greece and Italy. Written by academics, representatives of consumer organizations, practitioners, debt advisors, and industry representatives, this is an important resource, not only for their equivalents but also for policy makers, the judiciary, and everyone involved in the understanding of the problem. (Series: European and International Insolvency Law Studies, Vol. 3) [Subject: Commercial Law, International Law]
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1475507038 Total Pages :299 pages Book Rating :4.4/5 (755 download)
Book Synopsis World Economic Outlook, April 2012 by : International Monetary Fund. Research Dept.
Download or read book World Economic Outlook, April 2012 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2012-04-17 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: The April 2012 issue of the World Economic Outlook assesses the prospects for the global economy, which has gradually strengthened after a major setback during 2011. The threat of a sharp global slowdown eased with improved activity in the United States and better policies in the euro area. Weak recovery will likely resume in the major advanced economies, and activity will remain relatively solid in most emerging and developing economies. However, recent improvements are very fragile. Policymakers must calibrate policies to support growth in the near term and must implement fundamental changes to achieve healthy growth in the medium term. Chapter 3 examines how policies directed at real estate markets can accelerate the improvement of household balance sheets and thus support otherwise anemic consumption. Chapter 4 examines how swings in commodity prices affect commodity-exporting economies, many of which have experienced a decade of good growth. With commodity prices unlikely to continue growing at the recent elevated pace, however, these economies may have to adapt their fiscal and other policies to lower potential output growth in the future.
Book Synopsis The Character of Credit by : Margot C. Finn
Download or read book The Character of Credit written by Margot C. Finn and published by Cambridge University Press. This book was released on 2003-08-21 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents
Book Synopsis A Strategy for Resolving Europe's Problem Loans by : Mr. Shekhar Aiyar
Download or read book A Strategy for Resolving Europe's Problem Loans written by Mr. Shekhar Aiyar and published by International Monetary Fund. This book was released on 2015-09-24 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorities and banks to examine the structural obstacles that discourage banks from addressing their problem loans. A three pillared strategy is advocated to remedy the situation, comprising: (i) tightened supervisory policies, (ii) insolvency reforms, and (iii) the development of distressed debt markets.
Book Synopsis International Debt Statistics 2021 by : World Bank
Download or read book International Debt Statistics 2021 written by World Bank and published by World Bank Publications. This book was released on 2020-12-21 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Debt Statistics (IDS), a long-standing annual publication of the World Bank, features external debt statistics and analysis for the 120 low- and middle-income countries that report to the World Bank Debtor Reporting System. IDS 2021 includes (1) an overview analyzing global trends in debt stocks of and debt flows to low- and middle-income countries within the framework of aggregate capital flows (debt and equity); (2) a feature story on the World Bank and International Monetary Fund Debt Service Suspension Initiative in response to the COVID-19 pandemic; (3) tables and charts detailing debtor and creditor composition of debt stock and flows, terms of new commitments, and maturity structure of future debt service payments and debt burdens, measured in relation to gross national income and export earnings for each country; (4) one-page summaries per country, plus global, regional, and income group aggregates showing debt stocks and flows, relevant debt indicators, and metadata for six years (2009 and 2015†“19); and (5) a user guide describing the tables and content, definitions and rationale for the country and income groupings used in the report, data notes, and information about additional resources and comprehensive data sets available to users online. Unique in its coverage of the important trends and issues fundamental to the financing of low- and middle-income countries, IDS 2021 is an indispensable resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community. For more information on IDS 2021 and related products, please visit the World Bank’s Data Catalog at https://datacatalog.worldbank.org/dataset/international-debt-statistics.
Download or read book House of Debt written by Atif Mian and published by University of Chicago Press. This book was released on 2015-05-20 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A concise and powerful account of how the great recession happened and what should be done to avoid another one . . . well-argued and consistently informative.” —Wall Street Journal The Great American Recession of 2007-2009 resulted in the loss of eight million jobs and the loss of four million homes to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession—that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as less dramatic periods of economic malaise, were caused by a large run-up in household debt followed by a significantly large drop in household spending. Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. We can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place. Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing today’s economy: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?
Book Synopsis Personal Bankruptcy Law by : Eva-Maria Steiger
Download or read book Personal Bankruptcy Law written by Eva-Maria Steiger and published by Deutscher Universitätsverlag. This book was released on 2005-06-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eva-Maria Steiger classifies the mechanisms triggered by U.S. and European consumer bankruptcy regulations and tests them within a hidden action model. She identifies an influence on consumer effort choice at two dates - prior to distress and post filing -, appraises the capacity of the regulations to implement the efficient choice at both dates, and proposes a regulation to mitigate the identified distortions.
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Book Synopsis Household Debt and Economic Crises by : Heikki Hiilamo
Download or read book Household Debt and Economic Crises written by Heikki Hiilamo and published by Edward Elgar Publishing. This book was released on 2018-08-31 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The trajectories of increasing household debt are studied in the contexts of the US and the UK, Germany, the Netherlands, Finland and Norway. Household Debt and Economic Crises examines remedies to prevent and alleviate the over-indebtedness epidemic, creating a conceptual framework with which to analyse the causes and consequences of debt. Hiilamo argues that social policies are needed to tackle the current borrowing crisis that endangers and prevents the full participation in society of individuals with excessive debts.
Author :Council of Europe. Committee of Ministers Publisher :Council of Europe ISBN 13 :9789287163547 Total Pages :24 pages Book Rating :4.1/5 (635 download)
Book Synopsis Legal Solutions to Debt Problems by : Council of Europe. Committee of Ministers
Download or read book Legal Solutions to Debt Problems written by Council of Europe. Committee of Ministers and published by Council of Europe. This book was released on 2008-01-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Council of Europe Committee of Ministers' Recommendation Rec(2007)8 on legal solutions to debt problems is the first international legal instrument that estabishes a set of legal principles in order to assist national legislators in introducing or reinforcing laws and policies in this field. The recommendation covers three main areas: prevention of over-indebtedness of individuals and families, alleviation of the effects of debt recovery in order to avoid social exclusion and rehabilitation of over-indebted individuals with due regard to their human dignity.
Book Synopsis The Global Financial Crisis by : George K. Zestos
Download or read book The Global Financial Crisis written by George K. Zestos and published by Routledge. This book was released on 2015-10-05 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures. The detrimental social effects of the crisis in both the US and Europe are still emerging. Although there have been several studies published on the US crisis in particular, there has so far been an absence of an accessible comparative overview of both crises. This insightful text aims to fill this gap, offering a critical overview of causes, policy responses, effects and future implications. Starting with the historical context and mutation of the crisis, the book explores the policies, regulations, and governance reforms that have been implemented to cope with the US subprime mortgage crisis. A parallel analysis considers the causes of the European sovereign debt crisis and the responses of the European Union (EU), examining why the EU is as yet unable to resolve the crisis. This book is supported with eResources that include essay questions and class discussion questions in order to assist students in their understanding. This uniquely comprehensive and readable overview will be of interest and relevance to those studying financial crises, financial governance, international economics and international political economy.
Book Synopsis Britain's Personal Debt Crisis by : Damon Gibbons
Download or read book Britain's Personal Debt Crisis written by Damon Gibbons and published by . This book was released on 2014-07-01 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Damon's book provides a timely insight into the power of personal debt to not just make life a daily struggle of the public but do long term damage to the future our country. He matches detailed analysis with a passionate call for action that many will find compelling" Stella Creasy MP ''This is a timely analysis of the growth in personal debt and a passionate plea for action. Few people understand the working of credit markets better than Damon and his proposals for effective regulation deserve serious attention." Paul Blomfield MP "Damon is one of those rare people who is able to combine a social policy researchers' attention to detail with a campaigners' zeal and passion to make change happen. The fact that he has managed to sustain this work for more than a decade, even when it has often meant swimming against the prevailing opinion of the times, is remarkable. Not only that, his analysis of the problems and solutions to Britain's personal debt crisis is always insightful, and almost always right!" Niall Cooper director Church Action on Poverty ''Damon Gibbons has campaigned over many years for fair lending at a reasonable price to low income households. From doorstep lending to payday loans he has challenged established ideas and called for a cap on costs - a policy now endorsed by the Government." Paul Lewis, journalist and broadcaster About the book We are living in a period of great unrest. What is commonly regarded as starting as a 'credit crunch' in 2007 became a full blown financial crisis the following year causing the 'deepest global downturn in recent history'. Across Europe, rising insolvencies and unemployment have led to falling tax revenues, and to yawning national budget deficits. The austerity measures taken to 'deal with' these deficits are exacerbating wealth inequalities and a series of social and political crises are emerging Underpinning all of these events is a personal debt crisis, and it remains utterly unresolved. The personal debt crisis is not a single moment in time but has been caused by the de-regulation of the financial sector over a period of thirty years; of deep change within the structure of our labour market; of failed housing policies; and of the erosion of the welfare state. The personal debt crisis is also a cultural crisis, where positive notions of self reliance and responsibility have been twisted by the credit industry to encourage people to meet short term 'wants' at the expense of long term 'needs'.
