Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The...
Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries i...
The Eurozone's life-threatening crisis in May 2010 was halted when Eurozone leaders and the ECB took strong measures in May. But these were palliatives not a cure. The crisis is not over, according to the dozen world-renowned economists whose views are contained in this book. The Eurozone rescue needs to be completed. More needs to be done. The Eurozone 'ship' is holed below the waterline. The ECB actions are keeping it afloat for now, but this is accomplished by something akin to bailing the water as fast as it leaks in. European leaders must very soon find a way to fix the hole. This book...
The Eurozone's life-threatening crisis in May 2010 was halted when Eurozone leaders and the ECB took strong measures in May. But these were palliative...
Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The...
Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries i...
