Bail-In and the Future of the Eurozone

John Theodore and Jonathan Theodore

Chapter 6 in Cyprus and the Financial Crisis, 2015, pp 123-137 from Palgrave Macmillan

Abstract: Abstract This book is primarily concerned with the causes and consequences of the Cypriot financial crisis, and its place in the history of the island since independence. It is clear, however, how integrated the Cypriot story is with the wider issues at work in banking and sovereign finance: both the speculative bubble that provoked the global crisis of 2007–8 and its aftermath, and the unravelling of the eurozone as a political and economic project for prosperity. It was intimately involved in both trends, and both enjoyed and suffered the consequences. In fact, perhaps no other nation has been quite so bound up in these separate, parallel processes. Britain was and is the hub of a network of global finance, on which Cyprus was a smaller but still-important node — but the country avoided joining the eurozone, and the associated disasters that much of that region has suffered since 2009.

Keywords: Monetary Policy; Financial Crisis; European Central Bank; European Monetary Union; Debt Crisis (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-45275-7_7

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DOI: 10.1057/9781137452757_7

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