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Current Issues and Policies

In: Modern Financial Crises

Author

Listed:
  • Victor A. Beker

    (University of Belgrano and University of Buenos Aires)

  • Beniamino Moro

    (University of Cagliari)

Abstract

This chapter deals with current issues and policies regarding the updated developments of the three crises dealt with in this book: in Argentina, USA, and Europe. Argentina restructured its debt in 2005 with a significant reduction, which was accepted by 76 % of the creditors and resumed payment to them. In 2010 a second debt swap was offered which was accepted by another 17 % of the creditors. Anyway the terms of the debt exchanges left some open questions. In the USA the consequences of the Dodd–Frank Act are analyzed. Finally, in the EMU, a near-defaulting situation for Greece still remains unsolved, while the recent quantitative easing monetary policy implemented by the ECB succeeded to calm financial markets and created the right environment necessary to promote a new European economic recovery.

Suggested Citation

  • Victor A. Beker & Beniamino Moro, 2016. "Current Issues and Policies," Financial and Monetary Policy Studies, in: Modern Financial Crises, edition 127, chapter 0, pages 223-245, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-20991-3_11
    DOI: 10.1007/978-3-319-20991-3_11
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