You are looking at 1 - 10 of 1,893 items :

  • eurozone crisis x
Clear All
You do not have access to this content

German financialization, the global financial crisis, and the eurozone crisis

Liberalization, Integration, and Asymmetric State Power

Nina Eichacker

Financial Underpinnings of Europe’s Financial Crisis 6.  German financialization, the global financial crisis, and the eurozone crisis INTRODUCTION Germany’s dominant role in policies responding to Europe’s crises from 2008 onward begs the questions: how did German banks respond to financial liberalization in Europe and the global economy prior to the global financial crisis (GFC), and why might German banks have promoted financial liberalization to the rest of Europe, given the ultimate experiences of the GFC? Conventional stories of the causes of the

You do not have access to this content

Tomislav Sokol and Nikola Mijatović

12.  EU health law and policy and the Eurozone crisis EU health law and policy and the Eurozone crisis Tomislav Sokol and Nikola Mijatović* I. INTRODUCTION Healthcare represents of the most important areas of public policy in the world. The economic, social and political choices this area of human activity entails are regularly in the limelight, with many different stakeholders involved in the public debate. The European Union is no exception in this regard. Issues of prolonged lifespan influencing healthcare costs, public versus private governance of

This content is available to you

Eladio Febrero, Jorge Uxó and Fernando Bermejo

1 INTRODUCTION Is the eurozone (EZ) experiencing a balance-of-payments (BoP) crisis? What has been the role played by the TARGET2 system, combined with refinancing operations provided by the European Central Bank (ECB)? What makes the difference, if any, between a currency union and a fixed exchange-rate regime? These questions are at the centre of this paper, whose main aim is to come to grips with the debate on what are the root causes of the EZ crisis: a BoP problem or something else? Several economists from different theoretical backgrounds (see for instance

This content is available to you

Mario Seccareccia

1 INTRODUCTION Many economists have written about the eurozone crisis and the broad consensus has been that it began sometime in early 2010 when the Greek drama began to unfold ( Baldwin/Giavazzi 2015 ). This crisis remains virtually unprecedented in the economic history of Western Europe over the last seven decades since the end of World War II, because it brought widespread deflation as well as levels of mass unemployment to some European countries not witnessed perhaps since the Great Depression. The global financial crisis of 2007–2008 (starting with the US

You do not have access to this content

Gökçer Özgür and Emel Memis¸

1 INTRODUCTION The economic crisis of the eurozone emerged after the subprime mortgage crisis of the US; and since then the fiscal profligacy of some member countries, especially Greece, was seen as the root of the crisis. However, Greece was an outlier among eurozone countries, and other peripheral eurozone countries such as Spain and Ireland had seriously improved their fiscal position prior to the crisis. As a result, a new set of explanations had to be given for the underlying causes of the euro crisis. In fact an alternative explanation also quickly emerged

You do not have access to this content

Jenny Preunkert

9. The European integration process and the social consequences of the eurozone crisis Jenny Preunkert 9.1 INTRODUCTION Since 2010, comprehensive European crisis management has been gradually introduced to avoid a potential shortfall in payments by any member of the eurozone. The bailout funds enable vulnerable EU Member States to apply for support in the form of credits and securities (Blyth 2014; Hall 2014; Hodson 2015).1 However, the common currency area has been challenged not only by the fiscal and economic problems of some of its member countries, but also

You do not have access to this content

Martin Heidenreich

2. The Europeanization of income inequality before and during the eurozone crisis: inter-­, supra-­and transnational perspectives Martin Heidenreich 2.1 INTRODUCTION: THE EUROZONE CRISIS AS A CHALLENGE FOR INEQUALITY RESEARCH Disposable income is the essential economic basis for most households. The evolution and distribution of income is thus in the focus of the public and scientific debate (DiPrete 2007). It has been claimed that since the Great Recession of 2007–2009 and in the subsequent eurozone crisis income inequalities in the European Union (EU) have

You do not have access to this content

Martin Heidenreich

5. Women as the relative winners of the eurozone crisis? Female employment opportunities between austerity, inclusion and dualization1 Martin Heidenreich The eurozone crisis resulted in a sharp increase in EU unemployment rates (March 2008: 6.7 per cent; March 2013: 11 per cent). This labour market crisis led to a double dualization; firstly between European countries (especially between Northern and Southern Europe), and secondly between different occupational groups, as younger people, migrants, temporary and low-­skilled employees are mostly hidden by the

You do not have access to this content

Giovanni Calice, Jing Chen and Julian Williams

17. Liquidity spillovers in credit markets during the Eurozone crisis Giovanni Calice, Jing Chen and Julian Williams INTRODUCTION The theory of complete markets suggests that sovereign debt and credit default swap (CDS) credit spreads should track each other closely. In addition, liquidity risk should be priced into both instruments in such a way that buying exposure to the same default risk is identically priced, given appropriate collateral requirements for the hedging instruments and the payout structure in the CDS providing the desired recovery on the

You do not have access to this content

Christian Schweiger

3.  Europe 2020 and the eurozone crisis: a new functionalist era? 3.1  THE RETURN OF ‘SPILLOVER’ UNDER CRISIS CONDITIONS For a considerable amount of time the European integration has been determined by processes of interstate bargaining, which made it important to concentrate on the preferences of domestic elites and the underlying differences in the cultures of national political systems, economies and welfare state models. The state- entric paradigm in European integration c theory consequently seemed to have won the long- tanding debate with s the