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Modelling the Sovereign Debt Crisis in Europe

National Institute Economic Review, 2011
This note examines the impact of rising bond yields in certain Euro Area countries on debt sustainability. It concludes that without the financial assistance of the bailout packages, government debt in Greece would clearly have been unsustainable, while Ireland and Portugal would have been extremely vulnerable.
Orazgani, Ali, Holland, D., Kirby, S.
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The Euro Zone and the Sovereign Debt Crisis

SSRN Electronic Journal, 2017
In January 2011, during the World Economic Forum's annual meeting in Davos, Switzerland, Jason Sterling, a hedge fund manager, was conducting online research to see if he could trade on any newsworthy information emerging from the summit. Sterling's fund traded primarily in sovereign debt, and he needed to figure out if European leaders would be able ...
George (Yiorgos) Allayannis, Adam Risell
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The Irish Sovereign Debt Crisis

2015
From August 2010, financial markets’ concerns about the creditworthiness of the Irish sovereign increased significantly, due to large contingent liabilities from bank bail-outs and guarantees, as well as the direct impact on public finances of the real-estate collapse and deep economic recession.
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Sovereign Debt and the Financial Crisis

2010
In the wake of the financial crisis of 2008, governments worldwide undertook massive fiscal interventions to stave off what might otherwise have been a system-wide financial and economic meltdown. These policy responses engendered significant shifts in the growth trajectories and debt sustainability outlooks of both developed and developing economies ...
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Eurozone Sovereign Debt Crisis

SSRN Electronic Journal, 2011
The eurozone, composed of 17 countries which have adopted the euro as their currency, has been struggling with an apparently-intractable crisis over the enormous debts faced by its weakest economies and by countries impacted by the bursting of the housing boom in the past global recession of 2007-09.
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GIIPS in the Sovereign Debt Crisis

Ekonomik Yaklasim, 2012
Finance and financial markets were at the heart of the global economic crisis that began in August 2007. 2010 has seen the transformation of the global financial crisis into a sovereign debt crisis in the Eurozone. Starting from Greece, the debt crisis has put intense pressure on the bonds of other Eurozone countries, most notably Ireland, Portugal ...
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Italy's Sovereign Debt Crisis

Survival, 2012
The Italian story shows what happens when changes in market confidence outpace politics. Unless market participants will benefit more by staying in the game, what happened to Italy will happen elsewhere.
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Ireland’s Sovereign Debt Crisis

2011
Among the countries currently experiencing sovereign debt crises, Ireland’s case is perhaps the most dramatic. As recently as 2007, Ireland was seen by many as top of the European class in its economic achievements. Ireland had combined a long period of high economic growth and low unemployment with budget surpluses.
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A theory of sovereign debt roll-over crisis [PDF]

, 2004
In this paper, we attempt to provide theoretical investigation to debt roll-over crisis in government bond market. By using the global game techniques, we analyse coordination problem in debt auction. The approach in this paper allows us to have insight on the relation between occurence of soverign debt roll-over crisis and the fundamentals of economy ...
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Bank Lending and the European Sovereign Debt Crisis

Journal of Financial and Quantitative Analysis, 2015
I investigate whether bank exposures to sovereign debt during the European debt crisis affected the real economy. I show that a shock to the marked-to-market (MTM) value of bank exposures to sovereign debt led to credit tightening in 2010–2011 that had negative real effects on small and young firms.
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