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Deze masterproef onderzoekt de invloed van credit downgrades uitgegeven door kredietbeoordelaars, zoals Moody's, Fitch en S&P, op de Europese obligatiemarkt. De focus ligt voornamelijk op het concept van financiële besmetting. Aan de hand van een algemene regressie wordt de invloed van een negatieve kredietscore op de nationale obligatiemarkt onderzocht. Vervolgens wordt via een event study de invloed van diezelfde kredietwijziging aangetoond op de volledige Europese obligatiemarkt. Het eindresultaat bleek significant. Door de recente politieke en financiële eenmaking in Europa worden nationale schokken inderdaad doorgegeven aan andere lidstaten waarop de schok de facto niet van toepassing is. Er is sprake van financiële besmetting op de Europese obligatiemarkt.

Credit rating changes. --- Economische systemen. --- Sovereign bond yield spread. --- Sovereign debt crisis. --- Spillover effects.

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"This book documents everyday life under conditions of persistent crisis-driven hardship and uncertainty across different social locations in Athens, Greece. It develops an understanding of coming to resilience as a prepolitical condition of radical possibility"--

Resilience (Personality trait) --- Marginality, Social --- Suffering --- Athens (Greece) --- Social aspects --- Greece --- Social conditions --- sovereign debt crisis and austerity measures, resilience in Greece, resilience in athens, 2008 financial crisis, life of people in greece, austerity and precarity on Athenians,.

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How creditors came to wield unprecedented power over heavily indebted countries-and the dangers this poses to democracyThe European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates-why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts?In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone-including the dramatic capitulation of Greece's short-lived anti-austerity government to its European creditors in 2015.Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis-with devastating social consequences and far-reaching implications for democracy.

Debts, Public --- History. --- Amsterdam capital market. --- Argentina. --- Bank of Greece. --- Brady debt restructuring. --- Cristina Fernández de Kirchner. --- European debt crisis. --- Great Depression. --- Greece. --- Greek debt crisis. --- IMF. --- International Monetary Fund. --- King Philip II. --- Latin America. --- Mexico. --- Syriza party. --- bailout. --- bankers' alliance. --- bonds. --- capitalism. --- capitalist economy. --- conditional lending. --- contract enforcement. --- credit class. --- credit repayment. --- credit-money. --- credit. --- creditors. --- cross-border contract. --- debt crisis. --- debt moratorium. --- debt repayment. --- debt restructuring. --- debt service. --- debt servicing. --- debtor compliance. --- debtor discipline. --- default. --- democracy. --- democratic institutions. --- emergency lending. --- enforcement mechanism. --- external debt. --- finance. --- financial crisis. --- fiscal distress. --- foreign credit. --- foreign debt servicing. --- foreign investment. --- global finance. --- globalization. --- intermediary. --- international creditors. --- international crisis management. --- international debts. --- international lending. --- internationalization. --- lending cycles. --- long-term reputation. --- market discipline. --- power. --- public debt. --- repayment. --- short-term credit. --- social costs. --- solvency. --- sovereign debt crises. --- sovereign debt repayment. --- sovereign debt. --- sovereign default. --- spillover costs. --- structural power. --- syndicated lending. --- trade sanctions.

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Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of debt accumulation episodes in 100 emerging market and developing economies since 1970; a series of econometric models examining the linkages between debt and the probability of financial crises; and a set of case studies of rapid debt buildup that ended in crises. The paper reports four main results. First, episodes of debt accumulation are common, with more than 500 episodes occurring since 1970. Second, around half of these episodes were associated with financial crises which typically had worse economic outcomes than those without crises - after 8 years output per capita was typically 6-10 percent lower and investment 15-22 percent weaker in crisis episodes. Third, a rapid buildup of debt, whether public or private, increased the likelihood of a financial crisis, as did a larger share of short-term external debt, higher debt service cover, and lower reserves cover. Fourth, countries that experienced financial crises frequently employed combinations of unsustainable fiscal, monetary and financial sector policies, and often suffered from structural and institutional weaknesses.

Banking Crisis --- Bankruptcy and Resolution of Financial Distress --- Currency Crisis --- Debt Accumulation --- Debt Crisis --- Debt Markets --- Debt Sustainability --- External Debt --- Finance and Financial Sector Development --- Financial Crisis --- Financial Crisis Management and Restructuring --- Fiscal Policy --- Fiscal Sustainability --- International Economics and Trade --- Macroeconomic Management --- Macroeconomics and Economic Growth --- Monetary Policy --- Private Debt --- Public Debt

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Since its sovereign debt crisis in 2009, Greece has been living under austerity, with no apparent end in sight. This volume explores the effects of policies pursued by the Greek state since then (under the direction of the Troika), and how Greek society has responded. In addition to charting the actual effects of the Greek crisis on politics, health care, education, media, and other areas, the book both examines and challenges the “crisis” era as the context for changing attitudes and developments within Greek society.

Financial crises --- Social aspects --- Greece --- Economic conditions --- Social conditions --- anthropology. --- athens. --- austerity measures. --- austerity. --- business. --- debt crisis. --- economic collapse. --- economic crisis. --- economics. --- education. --- elections. --- engaging. --- finance. --- government and governing. --- greece. --- greek crisis. --- greek society. --- greek state. --- health care. --- historical. --- history. --- human condition. --- media. --- money. --- page turner. --- political science. --- political. --- politics. --- power and wealth. --- retrospective. --- revolution. --- social issues. --- social sciences. --- troika.