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Economic crisis

This category contains 81 posts

The aftermath of financial crises

Here’s why this recession lasts so long. Interview Kenneth Rogoff, economics professor at Harvard University. Emerging Markets: The global economy remains in a parlous state several years after the onset of the crisis. What went wrong? Kenneth Rogoff: I’m not so sure that something’s gone wrong. It’s rather that the early assessments of what was [...]

A New Year’s Banking Union

By Michel Barnier* Five years after the outbreak of the financial crisis, Europe’s economic and political situation remains fragile. A mild recession is expected in Europe this year, and unemployment is on the rise. Beyond deficit reduction, we need to implement a €120 billion ($155 billion) European investment plan, and deepen the European Single Market [...]

ECB press conference

Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt am Main, 6 September 2012. Introductory statement. Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended [...]

No Crime, No Punishment

When the US Justice Department recently closed its criminal investigation of Goldman Sachs, it became all but certain that no major American banks or their top executives would ever face criminal charges for their role in the financial crisis. Justice officials and even President Obama have defended the lack of prosecutions, saying that even though [...]

Too big to fail: empirical evidence on public banking interventions in the UK

Too big to fail: some empirical evidence on the causes and consequences of public banking interventions in the United Kingdom. By Andrew K Rose and Tomasz Wieladek. Summary. Beginning in late 2007, the public sector around the world helped their struggling financial sectors in a number of different ways. Some banks were offered government funding [...]

ECB statement

Introductory statement to the press conference. By Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB. Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the [...]

How European Central Bank can safeguard the euro

Financial markets want the ECB to put its strong words of support into action when it meets in Frankfurt this week. Mario Draghi, president of the European Central Bank, has said the ECB will do ‘whatever it takes’ to safeguard the euro. Photograph: Alex Domanski/Reuters Mario Draghi’s blunt statement that the ECB will do “whatever [...]

Managing financial crises: the role of the ECB

Speech by Peter Praet, Member of the Executive Board of the ECB: Managing financial crises: the role of the ECB. 40th Economics Conference of the Oesterreichische Nationalbank, Vienna, May 2012. Ladies and Gentlemen, It is a real pleasure for me to share my thoughts on the role of the European Central Bank (ECB) in managing [...]

New centre to tackle major economic challenges

A new interdisciplinary research centre to explore and challenge conventional economic thinking has been created by the Oxford Martin School in collaboration with the Institute for New Economic Thinking (INET). The creation of this exciting new centre comes in the wake of the 2008 financial crisis and the on-going euro crisis, after which leading economists, [...]

Bernanke college lecture series

In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period [...]

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