Sovereign Credit Risk in the Eurozone

  title={Sovereign Credit Risk in the Eurozone},
  author={Jamal Ibrahim Haidar},
  • Jamal Ibrahim Haidar
  • Published 2012
The roots of the Euro area crisis can be traced back to at least the summer of 2007. Although not picked up by the credit rating agencies until much later, the probability of default on sovereign debt increased in parallel with clear macroeconomic misalignments. These misalignments include recession-triggered budget deficits, bailout-motivated fiscal measures,1 as well as country-specific strategies and political risks – i.e. in the case of Portugal, Italy, Ireland, Greece and Spain.2 In the… CONTINUE READING

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