The European Sovereign Debt Crisis And Its Impacts On Financial Markets

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The European Sovereign Debt Crisis and Its Impacts on Financial Markets

Author : Go Tamakoshi
Publisher : Routledge
ISBN 13 : 1317629671
Total Pages : 154 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis The European Sovereign Debt Crisis and Its Impacts on Financial Markets by : Go Tamakoshi

Download or read book The European Sovereign Debt Crisis and Its Impacts on Financial Markets written by Go Tamakoshi and published by Routledge. This book was released on 2015-02-11 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis saw many Eurozone countries bearing excessive public debt. This led the government bond yields of some peripheral countries to rise sharply, resulting in the outbreak of the European sovereign debt crisis. The debt crisis is characterized by its immediate spread from Greece, the country of origin, to its neighbouring countries and the connection between the Eurozone banking sector and the public sector debt. Addressing these interesting features, this book sheds light on the impacts of the crisis on various financial markets in Europe. This book is among the first to conduct a thorough empirical analysis of the European sovereign debt crisis. It analyses, using advanced econometric methodologies, why the crisis escalated so prominently, having significant impacts on a wide range of financial markets, and was not just limited to government bond markets. The book also allows one to understand the consequences and the overall impact of such a debt crisis, enabling investors and policymakers to formulate diversification strategies, and create suitable regulatory frameworks.

European Sovereign Debt Crisis and Its Impact on Financial Markets and Institutions

Author : Afzal Ahmad
Publisher :
ISBN 13 :
Total Pages : 8 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis European Sovereign Debt Crisis and Its Impact on Financial Markets and Institutions by : Afzal Ahmad

Download or read book European Sovereign Debt Crisis and Its Impact on Financial Markets and Institutions written by Afzal Ahmad and published by . This book was released on 2017 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the European sovereign debt crisis that began in 2009; it mostly considers Greece and then Italy and Portugal since they were affected by the crisis. It gives the emergence and the causes of the crisis as well as its effect on their debt as a percentage to Gross Domestic Product and their Real Gross Domestic Product. It also analyses the impact on sovereign bond and its yields, the stock, gold, derivatives and forex markets, including the impact on financial institutions, it uses graphical illustrations from Bloomberg to back the analysis. It further assesses the measures taken so far by policy makers and financial institutions to curb the situation. It finally considers the impact of the crisis on financial landscape and lessons learnt from it.

Sovereign Rating News and Financial Markets Spillovers

Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1455227110
Total Pages : 29 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Sovereign Rating News and Financial Markets Spillovers by : Mr.Rabah Arezki

Download or read book Sovereign Rating News and Financial Markets Spillovers written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2011-03-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The sign and magnitude of the spillover effects depend both on the type of announcements, the source country experiencing the downgrade and the rating agency from which the announcements originates. However, we also find evidence that downgrades to near speculative grade ratings for relatively large economies such as Greece have a systematic spillover effects across Euro zone countries. Rating-based triggers used in banking regulation, CDS contracts, and investment mandates may help explain these results.

The Sovereign Debt Crisis

Author : Anton Brender
Publisher :
ISBN 13 : 9789461383372
Total Pages : 0 pages
Book Rating : 4.3/5 (833 download)

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Book Synopsis The Sovereign Debt Crisis by : Anton Brender

Download or read book The Sovereign Debt Crisis written by Anton Brender and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Sovereign Debt Crisis," 2012 edition, looked at how governments ran up substantial deficits in order to avert a worldwide depression and their subsequent attempts to rebalance their budgets. This updated edition concentrates on the delicate balancing act the economies of the United States, Japan, and the eurozone face between the present need to boost sluggish economic growth by providing sufficiently cheap, low-risk credit and the longer-term challenges of cutting massive debt and returning to a sustainable fiscal policy. The authors argue that many of the euro area economies, having noticeable difficulty paying their international debts, are in a sovereign debt crisis, while America and Japan are, for now, holding steady but in real danger of slipping into crisis. The book shows how the process has evolved in these three major developed economies and how their policy choices impact global financial markets.

The European Sovereign Debt Crisis and Its Impact on Bond and Stock Markets

Author : Sophia Koch
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The European Sovereign Debt Crisis and Its Impact on Bond and Stock Markets by : Sophia Koch

Download or read book The European Sovereign Debt Crisis and Its Impact on Bond and Stock Markets written by Sophia Koch and published by . This book was released on 2013 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We take advantage of the historical onetime event of the European sovereign debt crisis and investigate the impact of European sovereign downgrades and negative watches on the European government bond and stock market including the partial default of Greece in March 2012. Results are based on an unprecedented large sample of 159 rating events on industrial countries covering 10 years of data from 2002 to 2012. While European government bond and stock markets react significantly negative upon bad rating news, it is especially government bonds with longer times to maturity that suffer the most. This implies that the current European sovereign debt crisis is considered a long term crisis. Analyzing each country separately, we find no reaction on the respective government bond markets for any country, but significantly negative effects on the national stock indices of Greece, Portugal, Spain, and Slovenia. The partial default of Greece does not create negative spillover effects on bond and stock markets of the whole Eurozone or the group of troubled southern economies, but rather positive spillover effects on the northern European countries.

The European Debt Crisis

Author : Ali Ari
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443857920
Total Pages : 295 pages
Book Rating : 4.4/5 (438 download)

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Book Synopsis The European Debt Crisis by : Ali Ari

Download or read book The European Debt Crisis written by Ali Ari and published by Cambridge Scholars Publishing. This book was released on 2014-03-17 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent global financial crisis is considered to be the most severe crisis which has led to a synchronised recession since the Great Depression in the 1930s. Europe is the most affected region in the world as a result of this crisis, and, as such, the sovereign debt crisis remains the most important issue in the Eurozone and threatens the future of the EU. This book provides answers, from both theoretical and empirical perspectives, to the following questions: What caused the global and European debt crises? What are the consequences of these crises? Why, despite the implementation of several policy measures, are these crises still affecting the world economy? What are the solutions to end the on-going crisis situation in the Eurozone? How can future crisis episodes in the world economy be prevented? Eleven quality papers from both academics and professionals are included in this volume, each of which provides a significant source, reference, and teaching supplement for researchers, policymakers and advanced graduate students. In addition, the papers collected here will also provide supplementary readings for advanced courses for graduate students in economics and European studies.

Sovereign Debt and the Financial Crisis

Author : Carlos A. Primo Braga
Publisher : World Bank Publications
ISBN 13 : 0821385437
Total Pages : 528 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Sovereign Debt and the Financial Crisis by : Carlos A. Primo Braga

Download or read book Sovereign Debt and the Financial Crisis written by Carlos A. Primo Braga and published by World Bank Publications. This book was released on 2010-11-16 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents and discusses policy-relevant research on the current debt challenges which developing, emerging market and developed countries face. Its value added lies in the integrated approach of drawing on theoretical research and evidence from practitioners' experience in developing and emerging market countries.

The Debt Crisis in the Eurozone

Author : Nikos Petropoulos
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443861014
Total Pages : 550 pages
Book Rating : 4.4/5 (438 download)

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Book Synopsis The Debt Crisis in the Eurozone by : Nikos Petropoulos

Download or read book The Debt Crisis in the Eurozone written by Nikos Petropoulos and published by Cambridge Scholars Publishing. This book was released on 2014-06-02 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past four years, the countries of the European periphery – the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) – have been experiencing an economic-financial crisis that can only be compared to the Great Depression. To solve the crisis, the EU and the IMF instituted bailout programs for the debit countries on conditions of austerity and structural reforms. In this volume 20 social scientists, using both theoretical and empirical tools, delve into the causes and the social impacts of this crisis. The volume also provides an excellent background for a better comprehension of the dynamics of structural and political changes now taking place within the European Union. The social impacts cover a range of consequences, including poverty, unemployment, anti-migrant attitudes, a decline of welfare and health indicators, post-traumatic stress disorders, national humiliation, political alienation and social protest. The authors analyse the “international” and the “domestic” causes of the crisis, while some of them underline the importance of both factors. In the concluding chapter, the editors undertake a synthesis of the previous chapters, and extract a number of policy recommendations that – if adopted – could transform the current financial crisis into a growth-opportunity for the European Union and its member states.

From the Financial Crisis to the European Debt Crisis

Author : Stefan Redlich
Publisher : Akademische Verlagsgemeinschaft München
ISBN 13 : 3960913796
Total Pages : 127 pages
Book Rating : 4.9/5 (69 download)

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Book Synopsis From the Financial Crisis to the European Debt Crisis by : Stefan Redlich

Download or read book From the Financial Crisis to the European Debt Crisis written by Stefan Redlich and published by Akademische Verlagsgemeinschaft München. This book was released on 2012-01-24 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to review and critically analyze the situation of different euro area member states (Portugal, Ireland, Greece and Spain), commonly referred to as PIGS, the different proposals put forward and ultimately develop and structure a tailored proposal as how to cope with the crisis. Additional analysis will concentrate on the way and the timing the German government reacted to the crisis. A concise conclusion sums up the crucial points of this paper and also gives an outlook, respectively a prognosis, of the future based on decisions taken or agreed to be taken.

The European debt crisis and its effects on Germany's economic competitiveness

Author : Christian Tschäbunin
Publisher : GRIN Verlag
ISBN 13 : 3668496463
Total Pages : 86 pages
Book Rating : 4.6/5 (684 download)

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Book Synopsis The European debt crisis and its effects on Germany's economic competitiveness by : Christian Tschäbunin

Download or read book The European debt crisis and its effects on Germany's economic competitiveness written by Christian Tschäbunin and published by GRIN Verlag. This book was released on 2017-08-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: For Germany, as a strongly export-oriented economy, competitiveness on the international markets is of critical importance for its wealth and economic growth. A loss of competitive advantages could therefore severely affect the German economy. The aim of this book is to answer the question if and in what way this threat affected Germany’s economic competitiveness during the European debt crisis. The results will then be used to further define the publicly dominant disadvantages as well as possible advantages for Germany as a consequence of the crisis. In the end, the book also has the objective to give policy recommendations for the euro crisis from a German perspective. The results can subsequently contribute to the discussion whether Germany’s current policy is really „without any alternative“. In order to achieve the overall research goal, a combination of literature review and comprehensive data analysis is used. First of all, to provide a first „pillar“ of contextual background for the following analysis, an overview of the development and causes of the European debt crisis is given by referring to existing literature. Also, this section presents the financial and economic consequences of the described events in a graphical manner. Secondly, to construct the second pillar of conceptual framework, the term „economic competitiveness” is defined by a comprehensive literature review. Emphasis is put upon the concept of „ability to sell” and the measurement method of the country rankings while a short overview of other concepts is also provided. Finally, in combining theory and practice, an in-depth data-based analysis of the development of Germany’s economic competitiveness is given. With the help of various publicly available data sources, Germany’s ability to sell and other competitiveness metrics are tracked and elaborated on over the last centuries, with a special emphasis on the timeframe of the European debt crisis. Furthermore, comparisons to other countries are made to emphasize characteristics unique to Germany. Ultimately, the results of the analyses are evaluated and concluded in a short discussion about Germany’s current policy in the euro crisis. In this book: - the European debt crisis; - the role of Germany; - competitiveness; - prosperity; - ability to sell

The European Sovereign Debt Crisis

Author : Phoebus L. Athanassiou
Publisher : Routledge
ISBN 13 : 1000423093
Total Pages : 165 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis The European Sovereign Debt Crisis by : Phoebus L. Athanassiou

Download or read book The European Sovereign Debt Crisis written by Phoebus L. Athanassiou and published by Routledge. This book was released on 2021-08-23 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Sovereign Debt Crisis: Breaking the Vicious Circle between Sovereigns and Banks explains why the euro area’s progress towards reining in the risks arising from the well-documented bi-directional financial contagion transmission mechanism that links sovereigns to commercial banks has been more prominent compared to the channel of contagion moving from banks to sovereigns. Providing an analysis of the legal and regulatory measures that Europe and the euro area have taken to mitigate the exposure of sovereigns to financial crises generated by commercial banks, this book draws attention to areas where improvements to the arsenal of tools hitherto introduced are either desirable or necessary. Chapters further explain – with recourse to economic and legal arguments – why the channel of contagion moving from sovereigns to commercial banks has proven harder to close, and explores ways in which progress could be made in the direction of closing it so as to avert the risk of future banking sector crises. This work provides essential reading for students, researchers and practitioners with an interest in sovereign debt crises and the euro-area banking system.

The euro crisis. Causes and consequences of the Greek debt crisis on the euro zone

Author : Inga Rathje
Publisher : GRIN Verlag
ISBN 13 : 3346089126
Total Pages : 28 pages
Book Rating : 4.3/5 (46 download)

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Book Synopsis The euro crisis. Causes and consequences of the Greek debt crisis on the euro zone by : Inga Rathje

Download or read book The euro crisis. Causes and consequences of the Greek debt crisis on the euro zone written by Inga Rathje and published by GRIN Verlag. This book was released on 2019-12-24 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2018 in the subject Economics - Finance, grade: 1,3, University of Applied Sciences Essen, language: English, abstract: In this paper, these effects as well as the connection between the Greek crisis and the euro crisis are examined. To begin with, an insight into the causes of the debt crisis in Greece and how the crisis has spread to the eurozone. This will be followed by the euro crisis in general and its other causes. The fifth chapter deals with measures and solutions for Greece as well as the entire euro zone. This work finishes with a conclusion on the topics mentioned. In recent years, the news and media have dealt extensively with the “euro crisis”. For this reason, it should be a common term for any European. The euro crisis isn’t about the euro, but about a currency, bank, economic crisis and about state debts. Because of the different opinions about the crisis’ causes, this topic is a very controversial one. It is common that the global financial crisis, which resulted from the Lehmann bankruptcy in 2008, is being considered responsible for the euro crisis. However, the global financial crisis wasn’t accountable. There are other reasons for the outbreak of the euro crisis, such as the existing weaknesses of a system, which was already missing in structure, or America’s financial crisis. Not to forget, however, is the “Greek crisis” and its impact on the euro zone.

Global Waves of Debt

Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

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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.

Bust

Author : Matthew Lynn
Publisher : John Wiley & Sons
ISBN 13 : 1119990688
Total Pages : 290 pages
Book Rating : 4.1/5 (199 download)

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Book Synopsis Bust by : Matthew Lynn

Download or read book Bust written by Matthew Lynn and published by John Wiley & Sons. This book was released on 2010-12-21 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Athens, Greece—May Day 2010. The International Monetary Fund (IMF) and the European Union (EU) were putting together the final details of a $100 billion euro rescue package for the country. The Greek Prime Minister, George Papandreou, had agreed to a savage package of “austerity measures” involving cuts in public spending and lower salaries and pensions. Outside, riot police were deployed as protestors gathered to fight the austerity program. A country with a history of revolution and dictatorship hovered on the brink of collapse—with the world’s financial markets watching to see if the deal cobbled together would be enough to both calm the markets and rescue the Greek economy, and with it the euro, from oblivion. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, leading market commentator Matthew Lynn blends financial history, politics, and current affairs to tell the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Bust is a story of government deceit, unfettered spending, and cheap borrowing: a tale of financial folly to rank alongside the greatest in history. It charts Greece’s rise, and spectacular fall from grace, but it also explores the global repercussions of a financial disaster that has only just begun. It explains how the Greek debt crisis spread like wildfire through the rest of Europe, hitting Ireland, Portugal, Italy, and Spain, and ultimately provoking a crisis that brought the euro to the edge of collapse. And it argues that the Greek crisis is just the start of a decade of financial turmoil that will eventually force the break up of the euro, and a massive retrenchment in the living standards of all the developed economies. Written in a lively and entertaining style, Bust: Greece, the Euro, and the Sovereign Debt Crisis is an engaging and informative account of a country gone wrong and a must-read for anyone interested in world events and global economics.

Global Financial Development Report 2013

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 0821395041
Total Pages : 220 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Global Financial Development Report 2013 by : World Bank

Download or read book Global Financial Development Report 2013 written by World Bank and published by World Bank Publications. This book was released on 2012-09-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new annual publication from the World Bank Group provides an overview and assessment of financial sector development around the world, with particular attention on medium- and low-income countries.

Euro Area Sovereign Risk During the Crisis

Author : Ms.Silvia Sgherri
Publisher : International Monetary Fund
ISBN 13 : 1451873697
Total Pages : 25 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Euro Area Sovereign Risk During the Crisis by : Ms.Silvia Sgherri

Download or read book Euro Area Sovereign Risk During the Crisis written by Ms.Silvia Sgherri and published by International Monetary Fund. This book was released on 2009-10-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainability. From this perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are mainly driven by a common time-varying factor, mimicking global risk repricing. Since October 2008, however, there is evidence that markets have become progressively more concerned about the potential fiscal implications of national financial sectors' frailty and future debt dynamics. The liquidity of sovereign bond markets still seems to play a significant (albeit fairly limited) role in explaining changes in euro area spreads.

The Greek Debt Crisis

Author : Christos Floros
Publisher : Springer
ISBN 13 : 3319591029
Total Pages : 323 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis The Greek Debt Crisis by : Christos Floros

Download or read book The Greek Debt Crisis written by Christos Floros and published by Springer. This book was released on 2017-11-08 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds new light on the Greek economic challenges and helps readers understand the current debt crisis. Chapters from leading experts in the field identify and outline potential solutions to the on-going decline of the Greek economy by considering both Eurozone-adopted current policy framework explanations and potential alternative explanations. In contrast to the standard chronological approach toward the Greek debt crisis typically adopted by other texts, this book draws on the experience and views of specialized economists and offers divergent opinions that could potentially form alternative solutions. It will be of interest to researchers and academics interested in the Greek economy, modern financial modelling, and risk management.