Please use this identifier to cite or link to this item:
Full metadata record
DC FieldValueLanguage
dc.description.abstractThis study of the European sovereign debt crisis contains an analysis of its causes and consequences, including the policy responses, with particular reference to Greece, Ireland and Portugal. The European debt crisis has been a source for speculation and concern since its outbreak in 2009. The reason is that there has never before been a single currency area that is so diverse and complex in structure. The following study investigates this crisis by looking at the different causes and responses in different countries under the restrictions of a monetary union. The study begins by providing a review of The Optimum Currency Area criteria and their application to the Economic and Monetary Union. The creation of the EMU has motivated renewed interest in the investigation of optimum currency areas. In fact, the latest measures for strengthening fiscal integration will bring the Eurozone even closer to meeting OCA criteria. The study continues by analysing the causes of the debt crisis in Greece, Ireland and Portugal and how their respective governments and the European Union have responded to this crisis. This study also seeks to examine the European Union's decisions and responses to this crisis as a whole, through measures such as the creation of the European Financial Stability Facility (EFSF) as a financing vehicle and the establishment of the permanent European Stabilisation Mechanism (ESM) in mid-2013. It also investigates the measures taken by the ECB and the European Union through long term refinancing operations and legislation such as the Fiscal Pact, which is the latest response to resolving the on-going crisis. Finally the main conclusions and lessons learned are provided by linking the OCA criteria to the actions taken to resolve the crisis.en_GB
dc.subjectFinancial crises -- European Union countriesen_GB
dc.subjectDebts, Public -- European Union countriesen_GB
dc.subjectGreece -- Economic policyen_GB
dc.subjectIreland -- Economic policyen_GB
dc.subjectPortugal -- Economic policyen_GB
dc.titleThe European sovereign debt crisis : an analysis of the causes & consequences in Greece, Ireland, Portugal and the Eurozone as a wholeen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management & Accountancy. Department of Banking & Financeen_GB
dc.contributor.creatorPeeters, Lesley-
Appears in Collections:Dissertations - FacEma - 2012
Dissertations - FacEMABF - 2012

Files in This Item:
File Description SizeFormat 
  Restricted Access
1.42 MBAdobe PDFView/Open Request a copy

Items in OAR@UM are protected by copyright, with all rights reserved, unless otherwise indicated.