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The fiscal implications of a banking union

Jean Pisani-Ferry () and Guntram Wolff

Policy Briefs from Bruegel

Abstract: Systemic banking crises are a threat to all countries whatever their development level. They can entail major fiscal costs that can undermine the sustainability of public finances. More than anywhere else, however, a number of euro-area countries have been affected by a lethal negative feedback loop between banking and sovereign risk, followed by disintegration of the financial system, real economic fragmentation and the exposure of the European Central Bank. Recognising...

Date: 2012-09
New Economics Papers: this item is included in nep-ban, nep-cba, nep-eec, nep-mon and nep-opm
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