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This paper shows that an increase in banks’ holdings of domestic sovereign debt decreases the ability of domestic sovereigns to successfully enact bailouts.

Authors: Gaetano Gaballo | Banque de France
Ariel Zetlin-Jones | Tepper School of Business

Paper presented at ADEMU (A Dynamic Economic and Monetary Union) conference co-organised by the ESM in May 2016

Abstract:

This paper finds that foreign debt financing improved firm performance and mitigated the adverse effects of leverage for moderately leveraged firms in Slovenia before and during the recent crisis.

Authors: Mateja Gabrijelčič | Bank of Slovenia
Uroš Herman | GSEFM, Goethe University, Frankfurt
Andreja Lenarčič | ESM

Abstract:

On 06 September 2016 the EFSF raised €1 billion in a tap of its 31 May 2047 bond

Interview with Klaus Regling, Managing Director, ESM

Published in Ta Nea (Greece)

3 September 2016

Interviewer: Eirini Chrysolora

Ta Nea: When will the short-term measures for debt relief be ready and do you think they will be strong enough to be to be meaningful?