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Cleaning up the mess: Bank resolution in a systematic crisis. CEPS Commentary, 7 June 2012

Gros, Daniel. and Schoenmaker, Dirk (2012) Cleaning up the mess: Bank resolution in a systematic crisis. CEPS Commentary, 7 June 2012. [Policy Paper]

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    Abstract

    The diabolical loop between the solvency of the banking system and the sovereign fiscal position is now apparent. In Greece it is the insolvency of the government that has sunk the banks, whereas in Spain the banks are sinking the government. What is common in both countries is that when savers see the banks and the sovereign propping each other up, they run away. Unless the banks in both Greece and Spain are soon recapitalised, the ongoing gradual deposit flight might turn quickly into a classic run with incalculable consequences.

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    Item Type: Policy Paper
    Subjects for non-EU documents: Countries > Greece
    Countries > Spain
    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: 11 Jun 2012 10:57
    Number of Pages: 3
    Last Modified: 11 Jun 2012 10:57
    URI: http://aei.pitt.edu/id/eprint/35407

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