La crisis bancaria y de deuda soberana en España: Orígenes e interrelaciones

Ángel Berges, Emilio Ontiveros and Francisco J. Valero
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Ángel Berges: Universidad Autónoma de Madrid
Emilio Ontiveros: Universidad Autónoma de Madrid
Francisco J. Valero: Universidad Autónoma de Madrid

EKONOMIAZ. Revista vasca de Economía, 2013, vol. 84, issue 03, 128-155

Abstract: Ireland and Spain are among the countries where most intense has been the bank-debt vicious circle. Banks were at the forefront of crisis, as a consequence of weak balances, and exposure to real estate. Public support for banks, as well as other expansionary programs, drove public finances to unsustainable levels. Markets penalized indebted countries and forced austerity measures which aggravated economic growth and bank balance sheets. Banks themselves failed to supply credit to the economy, squaring a circle that is the most dangerous the highest is banking weight in financial markets.

Keywords: banking crisis; economic crisis; public debt; financial stability; monetary union (search for similar items in EconPapers)
JEL-codes: E44 E58 F33 G21 H63 (search for similar items in EconPapers)
Date: 2013
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