Storm and R. In Greece, the IMF, together with its European partners, required the government not just to cut expenditures, but to undertake far-reaching tax, pension, judicial, and labor-market reforms.
It was a good economic practice to lower its trade barriers. When requesting a correction, please mention this item's handle: RePEc:zbw:hawdps Google Scholar Diaz Sanchez, J. Spain FSAP and Financial Sector Reform Monitoring Like Ireland, Spain was a case of contagion from the banking sector, but it was the worsened euro-area environment that made this a threat to sovereign market access.
A new crisis might be brewing. Ghironi, G. It also implied that to achieve a given amount of sovereign debt reduction, a larger haircut would be needed now, compared with the earlier period when the total pool of Greek sovereign debt held in the private sector was larger. From the s onwards, cross-border market integration and a competitive level playing field were enforced through increasingly powerful European policy frameworks, including regulatory harmonisation and EU competition policy.
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Google Scholar Mortensen, D. A separate issue was the impact of the Greek programme on the rest of the EU banking system, and the possible implications of this impact for decisions on the design and timing of private-sector involvement PSI.