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"Cross-Country Spillovers of Fiscal Consolidations in the Euro Area"
This seminar revisits the issue of cross-country spillovers from fiscal consolidations using an innovative empirical methodology. We find evidence in support of fiscal spillovers in 10 euro area countries. Fiscal consolidation in one country not only reduces domestic output (direct effect), but also the output of other member countries (indirect/spillover effect).
"What do we know about the global financial safety net? Rationale, data and possible evolution"
Livio Stracca - Livo Stracca is the Head of the International Policy Analysis Division in the Directorate General International and European Relations of the European Central Bank. He teaches at the University of Frankfurt J.-W. Goethe, and has also worked for Banca d'Italia.
Luxembourg – The European Stability Mechanism (ESM) today conducted a tap of its 0% 6-year bond maturing on 18 October 2022 through an auction. The deal raised €0.9965 billion, bringing the total size of the bond to €3.9965 billion.
The European Commission published a report: "The ESM Stability Support Programme - Greece, First and Second Reviews. July 2017 Background Report"
This report contains the background analysis describing the design of the ESM programme for Greece signed in August 2015 and the implementation of the programme up to July 2017, i.e. up to the conclusion of the second review.
Download the report
This report contains the background analysis describing the design of the ESM programme for Greece signed in August 2015 and the implementation of the programme up to July 2017, i.e. up to the conclusion of the second review.
Download the report
Making Banking Union work
ESBG Board Meeting
Luxembourg, 10 November 2017