Hardouvelis, Gikas (2014), “Overcoming the crisis in Cyprus”, Economy & Markets, Vol. IX, Issue 1. Following the March 2013 bail-in of large bank depositors and the subsequent crisis, Cyprus faces major challenges and risks during 2014 and 2015. The first challenge is to ensure financial stability and lift all capital control restrictions. Another challenge is to move fast with structural reforms, gain credibility in fiscal policy and ensure the recession ends …Read More

Merter, S. (2014), “Banking Union and Beyond: Discussion papers for Brussels Think Tank Dialogue”, Bruegel, 28 Ιανουαρίου. Three years have passed since the euro crisis broke out in 2010, revealing the shortcomings of the EMU architecture as it was foreseen in Maastricht. A number of reforms have been undertaken since 2010 in order to strengthen the Monetary Union, make it more adept to face the challenges of the financial integration …Read More

Gibson, H., Palivos, Th., Tavlas, G., (2014), “The Crisis in the Euro Area: an Analytical Overview”, Bank of Greece Conference Paper: “The Crisis in the Euro Area, May 23-24, 2013”.  This paper provides an introduction to the special issue “The Crisis in the Euro Area”. We take stock of what the euro area crisis has taught us about monetary integration. At the inception of the euro area in 1999, the …Read More

Gandrud, Chr., Hallerberg, Mark, (2014),  “Supervisory transparency in the European banking union”, Bruegel, 3 Ιανουαρίου. Bank supervisors should provide publicly accessible, timely and consistent data on the banks under their jurisdiction. Such transparency increases democratic accountability and leads to greater market efficiency. There is greater supervisory transparency in the United States compared to the member states of the European Union. The US supervisors publish data quarterly and update fairly detailed …Read More

Visco, I., (2013), “The aftermath of the crisis: Regulation, supervision and the role of central banks”, Centre for Economic Policy Research, Policy Insight No.68, December. The financial crisis has brought to the fore a number of issues. It has been severe and widespread, and has affected many economies in different and long-lasting ways. Maintaining financial stability has once again become a major concern of policymakers and central banks are heavily …Read More

Pilkington, P., (2013), “The Continued Relevance of Tax-backed Bonds in a Post-OMT Eurozone”, Levy Economics Institute, Policy Note 2013/10, December. In a policy note published last year by the Levy Institute, the present author and Warren Mosler argued that the eurozone sovereign debt crisis could be solved by national governments without the assistance of the European Central Bank (ECB) and without leaving the currency union. We argued that this could …Read More

Crafts, N., (2013), “Saving the Euro: A Pyrrhic Victory?”, Competitive Advantage in the Global Economy and Clatham House, The CAGE-Chatham House Series, No. 11, November. Σημεία Περίληψης The survival of the euro has entailed a lengthy recession and has left an ominous legacy of public debt, but the fundamental flaws in its original design have not been corrected. In the 1930s the collapse of the Gold Standard was an integral …Read More