Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/198261 
Year of Publication: 
2013
Citation: 
[Journal:] CES Working Papers [ISSN:] 2067-7693 [Volume:] 5 [Issue:] 3 [Publisher:] Alexandru Ioan Cuza University of Iasi, Centre for European Studies [Place:] Iasi [Year:] 2013 [Pages:] 422-430
Publisher: 
Alexandru Ioan Cuza University of Iasi, Centre for European Studies, Iasi
Abstract: 
This paper addresses a number of phenomena that characterize the euro area, one of them being the contagion effect. This is one of the mechanisms by which financial instability becomes so widespread that the crisis reached global dimensions. The following lines argue that contagion plays a crucial role in exacerbating the sovereign debt problems in the Eurozone. Consequently, the management of the crisis by the competent authorities should focus on policy measures that are able to mitigate the contagion. Therefore, many of the European Central Bank interventions (ECB) in the European Union were motivated by the need for understanding and mitigating the contagion phenomenon.
Subjects: 
international financial contagion
crisis
macroeconomic indicators
fiscal policies
sovereign debts Romania
JEL: 
E44
F34
Creative Commons License: 
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Document Type: 
Article

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