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Sovereign Risk and Financial CrisisBond Spreads, EMU Design and the Run-up to the Crisis

Sovereign Risk and Financial Crisis: Bond Spreads, EMU Design and the Run-up to the Crisis [Greece and Ireland were the first two countries to be hit by the EMU sovereign debt crisis: Greece was the first victim, in the first half of 2010, and Ireland followed in the second half of the same year. While the sovereign debt crises were dramatic events in both countries, their severity, length and final outcome were clearly different1: Greece restructured its debt in March 2012,2 while Ireland returned to the markets for funding by July of the same year.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Sovereign Risk and Financial CrisisBond Spreads, EMU Design and the Run-up to the Crisis

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Publisher
Palgrave Macmillan UK
Copyright
© The Editor(s) (if applicable) and The Author(s) 2015
ISBN
978-1-349-57304-2
Pages
53 –72
DOI
10.1057/9781137511645_3
Publisher site
See Chapter on Publisher Site

Abstract

[Greece and Ireland were the first two countries to be hit by the EMU sovereign debt crisis: Greece was the first victim, in the first half of 2010, and Ireland followed in the second half of the same year. While the sovereign debt crises were dramatic events in both countries, their severity, length and final outcome were clearly different1: Greece restructured its debt in March 2012,2 while Ireland returned to the markets for funding by July of the same year.]

Published: Dec 1, 2015

Keywords: Credit Risk; Public Debt; Credit Default Swap; Monetary Union; Government Bond

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