Fiorante, Angelo. (2011) Foreign currency indebtedness: a potential systemic risk in emerging Europe. ECRI Commentary No. 8, 5 December 2011. [Working Paper]
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Abstract
Foreign currency indebtedness in new EU member states has had serious post-crisis consequences, where a substantial currency mismatch has contributed to an alteration in the macroeconomic and financial risk profile of individual countries. A pivotal challenge ahead for emerging Europe will be to strengthen institutional and monetary credibility and reinforce stable and efficient capital markets that are less dependent on foreign capital inflows. This would ultimately reduce countries’ vulnerability to future shocks to the economy, and facilitate their full-blown recovery.
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Item Type: | Working Paper |
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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 > monetary policy EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance |
Subjects for EU documents: | UNSPECIFIED |
EU Series and Periodicals: | UNSPECIFIED |
EU Annual Reports: | UNSPECIFIED |
Series: | Series > Centre for European Policy Studies (Brussels) > ECRI Commentaries |
Depositing User: | Phil Wilkin |
Official EU Document: | No |
Language: | English |
Date Deposited: | 06 Dec 2011 14:17 |
Number of Pages: | 13 |
Last Modified: | 10 Dec 2019 15:46 |
URI: | http://aei.pitt.edu/id/eprint/33009 |
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