Managing Risks in the European Periphery Debt Crisis

Part I: Genesis of the Crisis, Use and Abuse of Economic Policies 1 The Genesis of the Eurozone Sovereign Debt Crisis: Philippe d'Arvisenet 2 The Trade-Off between Fiscal and Competitiveness Adjustments: Daniel Gros with Cinzia Alcidi 3 Ireland and Greece: A Tale of Two Fiscal Adjustments: Jeffrey D. Anderson and Jessica Stallings 4 Rating Agencies vs. Sovereign Debt Markets: A Tale of Interacting Risk Preferences: George Christodoulakis 5 The 2012 Greek Debt Restructuring and its Aftermath: Miranda Xafa 6 Economic Theories that Influenced the Judges of Karlsruhe: Paul De Grauwe 7 Privatization of State Assets in the Presence of Crisis: George Christodoulakis Part II: Crisis Resolution, Prospect and Retrospect 8 How to Manage Public Debts in the Euro Area?: Catherine Mathieu and Henri Sterdyniak 9 Fiscal Risk Sharing and Stabilization in the EMU: Kerstin Bernoth and Philipp Engler 10 Sovereign Debt and its Restructuring Framework in the Eurozone: Ashoka Mody 11 Funding Risks for Corporates in the Periphery: Disintermediation to the Rescue for the Larger Ones, Challenges for the Others: Blaise Ganguin 12 On Solving Europe's Financial Issues to Promote Sustainable Growth: Adrian Blundell-Wignall and Caroline Roulet 13 European Banking Union as a Response to the Fragmentation of the Internal Market Resulting from the Financial and Sovereign Debt Crisis: Dimitris Tsibanoulis with Gerry Kounadis