Year: 2012
Type: article
Abstract: Against the background of the economic and financial crisis, public finances severely deteriorated in many EMU Member States and a new crisis, of sovereign debt, emerged. Considering ECB's recognized responsibility for ensuring overall financial stability, our paper shortly overviews the main monetary policy measures it adopted since May 2010, proving the vital roleof ECB's interventionin countering the effects of the sovereigndebt crisis. The added value of our work mainly results from the coherent analysis of the interconnections between sovereign crisis, banking crisis and the real sector of the economy, as determinants for ECB's intervention, as well as from highlighting the potential risks entailed by ECB's actions over the medium and long term.
Source: Procedia Economics and Finance
Authors: Angela Roman, Irina Bilan
Institution: Alexandru Ioan Cuza University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2028170882