European Sovereign Debt Crisis and its Impact on Financial Markets and Institutions

Afzal Ahmad
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Afzal Ahmad: Assistant Professor of Accounting, International Islamic University Chittagong, Chittagong, BANGLADESH

American Journal of Trade and Policy, 2015, vol. 2, issue 3, 113-120

Abstract: This paper examines the European sovereign debt crisis that began in 2009; it mainly considers Greece, Italy, and Portugal since they were affected by the crisis. It gives the emergence and the causes of the problem as well as its effect on their debt as a percentage of Gross Domestic Product and their Real Gross Domestic Product. It also analyses the impact on sovereign bonds and their yields, the stock, gold, derivatives, and forex markets, including the implications for financial institutions; it uses graphical illustrations from Bloomberg to back the analysis. It further assesses the measures taken so far by policymakers and financial institutions to curb the situation. It finally considers the impact of the crisis on the financial landscape and lessons learnt from it.

Keywords: Debt Crisis; Financial Markets; Financial Institutions; Europe (search for similar items in EconPapers)
JEL-codes: D53 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ajotap:0105

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