Rieth, Malte, Fratzscher, Marcel, (2015), “Bank bailouts, monetary policy, and credit default risks in the Eurozone”, Voxeu, 6 September
In a response the Crisis, the ECB provided liquidity to banks on a massive scale and intervened in sovereign debt markets. This column argues that bank bailout policies and non-standard monetary policies by the ECB had a significant impact on default risks of sovereigns and banks in the Eurozone. The results, however, show that neither of the two policies was an unqualified success. Policies which are intended to reduce default risk can therefore have opposite effects if they are not properly designed.
- Dawson, Mark, (2015), “The Eurozone crisis has deeply eroded the EU’s accountability structures”, LSE blog, 7 September
- Varoufakιs, Yanis, (2015), “Democratizing the Eurozone”, Project Syndicate, 1 September.