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Bank Crisis Resolution and the Insufficiency of Fiscal Backstops: The Case of Spain

In: The First Great Financial Crisis of the 21st Century A Retrospective

Author

Listed:
  • S. Carbó-Valverde
  • M.J. Nieto

Abstract

This chapter analyzes the Spanish financial crisis and the national and European policymakers' response that resulted in the successful completion of a major program of financial-sector reform outlined in the Memorandum of Understanding (MoU) on Financial Sector Policy Conditionality of July 20, 2012. We conclude that some of the conditions established in the MoU were particularly efficient in dealing effectively with the banking crisis in Spain.

Suggested Citation

  • S. Carbó-Valverde & M.J. Nieto, 2015. "Bank Crisis Resolution and the Insufficiency of Fiscal Backstops: The Case of Spain," World Scientific Book Chapters, in: James R Barth & George G Kaufman (ed.), The First Great Financial Crisis of the 21st Century A Retrospective, chapter 17, pages 461-487, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814651257_0017
    as

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