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Eurozone bank recapitalisations: pouring water into a leaky bucket. CEPS Commentary, 24 October 2011

De Grauwe, Paul. (2011) Eurozone bank recapitalisations: pouring water into a leaky bucket. CEPS Commentary, 24 October 2011. [Policy Paper]

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    Abstract

    Unlike the banking crisis of 2008; when governments had significantly lower debt burdens, governments today cannot recapitalize banks without triggering downgrades and renewed fears of sovereign default. In order to stop this downward spiral in the eurozone, a credible floor has to be put in place on the prices of government bonds. This CEPS Commentary argues that the European Central Bank is the only institution capable of imposing such a floor and breaking this vicious circle.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 24 Oct 2011 08:43
    Number of Pages: 2
    Last Modified: 24 Oct 2011 08:43
    URI: http://aei.pitt.edu/id/eprint/32635

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