{"id":124666,"date":"2024-01-23T09:11:27","date_gmt":"2024-01-23T08:11:27","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/124666\/"},"modified":"2025-10-22T22:07:28","modified_gmt":"2025-10-22T20:07:28","slug":"the-eurozone-financial-crisis-debt-credit-ratings-and-monetary-and-fiscal-policy","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/124666\/","title":{"rendered":"The eurozone financial crisis: debt, credit ratings and monetary and fiscal policy"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-124666","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"This paper discusses the eurozone financial crisis. It argues that it was largely the result of a common monetary policy not being suitable for individual countries which led to excessive private and public borrowing and a debt crisis. Neither borrowing rates nor credit ratings anticipated the crisis. Fundamental changes to eurozone governance are being proposed. The paper examines whether instead there might be a market solution if financial markets priced risk better. Accordingly, a more timely way of obtaining credit ratings is shown.","onlinedate":"2016-05-01 02:00:00","lang":"English","publication_series":"","publication_date":"20160501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Monetary policy Fiscal policy Eurozone financial crisis Credit ratings\"]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"http:\/\/www.springer.com\/10663","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"43","monthly_report_pages":"219-233","monthly_report_pages_sort":"219","issue":"2","journal":"Empirica","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3500],"collaboration":"","persons":[15795],"persons_data":"[{\"personId\":15795,\"personName\":\"Michael Wickens\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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