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The IMF’s role in the euro-area crisis: financial sector aspects. Bruegel Policy Contribution Issue No. 13, August 2016

Véron, Nicolas. (2016) The IMF’s role in the euro-area crisis: financial sector aspects. Bruegel Policy Contribution Issue No. 13, August 2016. [Policy Paper]

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    Abstract

    Nicolas Véron reviews in-depth the role played by the IMF in understanding the financial-sector dynamics of the euro-area crisis. The IMF was the first public authority to acknowledge the role of the bank-sovereign vicious circle and to articulate a clear vision of banking union as an essential policy response. At national level, the IMF’s approach to the financial sector was appropriate and successful in Ireland and Spain, more limited in the Greek Stand-By Arrangement, and less compelling in Portugal.

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    Item Type: Policy Paper
    Subjects for non-EU documents: Other international institutions > IMF
    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 > Bruegel (Brussels) > Policy Contributions
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 31 Aug 2016 11:55
    Number of Pages: 32
    Last Modified: 01 Sep 2016 09:45
    URI: http://aei.pitt.edu/id/eprint/79183

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