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"Do Capital Inflows Lead to Misallocation? Interest Rates and Productivity in Small Open Economies"
Daniele Siena is a research economist in the International Macroeconomics Division. He is also teaching at Sciences Po, at Università Cattolica di Milano and at the International Banking and Finance Institute. His research interest are macroeconomics, international & monetary economics.
Download PDF: Working Paper 22
This paper studies the mechanisms through which bank and sovereign distress feed into each other, using a large sample of emerging market economies over three decades
Authors: Irina Balteanu (Bank of Spain) and Aitor Erce (European Stability Mechanism)
Abstract:
Greek debt levels are no longer cause for alarm
Op-ed by Klaus Regling, ESM Managing Director
Published in Financial Times, 9 February 2017
Luxembourg - The European Financial Stability Facility (EFSF) on Monday raised €1.5 billion in a new benchmark 26-year bond.
“With today’s deal, the EFSF filled another gap in its outstanding bond curve. The size allows for the bond to perform in a challenging market and gives the EFSF a chance to add liquidity with a tap later,” said Siegfried Ruhl, EFSF Head of Funding and Investor Relations.
The spread of the 1.7 percent February 2043 bond was fixed at mid-swaps plus 30 basis points, implying a reoffer yield of 1.717 percent.
Day 2, Session V, "The future of EU and Europe"
Constantinos Karamanlis Hall - European Cultural Centre of Delphi
Can the Eurozone’s emergence from crisis turn into a real economic recovery and a new vision for Europe’s future? Or is Europe heading for a “lost decade” in terms of growth and a rise of eurosceptic populism?
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#DelphiEconomicForum