Saving the Euro: Self-fulfilling Crisis and the “Draghi Put”
Marcus Miller and
Lei Zhang
Chapter 4.1 in Life After Debt, 2014, pp 227-241 from Palgrave Macmillan
Abstract:
Abstract Writing in 2011, Paul De Grauwe noted the contrast between the alacrity of the ECB in providing liquidity in the banking crisis of 2008–09 and its reluctance to do so in the subsequent sovereign debt crisis: Things were very different when the sovereign debt crisis erupted in 2010. This time the ECB was gripped by hesitation. A stop-and-go policy ensued in which it provided liquidity in the government bond markets at some moments and withdrew it at others. When the crisis hit Spain and Italy in July 2011, the ECB was compelled again to provide liquidity in the government bond markets. (De Grauwe, 2011a)
Keywords: Credit Default Swap; Bond Market; Sovereign Debt; Euro Zone; Credit Default Swap Spread (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (3)
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
Working Paper: Saving the Euro: self-fulfilling crisis and the ?Draghi Put? (2014) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-41148-8_14
Ordering information: This item can be ordered from
http://www.palgrave.com/9781137411488
DOI: 10.1057/9781137411488_14
Access Statistics for this chapter
More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().