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The Responsibility of States and Central Banks in the Euro Crisis

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  • Hans-Werner Sinn

Abstract

Inhalt: 1. Regulatorische Gründe für die Krise 2. Refinanzierungskredite und Target-Salden 3. Staatspapierkäufe der EZB und offizielle Rettungsprogramme 4. Die Risiken und Kosten der EZB-Politik 5. Ökonomische Bewertung der EZB-Politik 6. Politikmaßnahmen gegen Zinsspreizungen 7. Zusammenfassung in Thesenform

Suggested Citation

  • Hans-Werner Sinn, 2013. "The Responsibility of States and Central Banks in the Euro Crisis," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(1), pages 03-33, June.
  • Handle: RePEc:ces:ifosdt:v:66:y:2013:i:1:p:03-33
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    File URL: https://www.ifo.de/DocDL/SD_Juni_2013_Sonderausgabe_1.pdf
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    Citations

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    1. repec:zbw:rwirep:0447 is not listed on IDEAS
    2. Nikolay Hristov & Oliver Hülsewig & Thomas Siemsen & Timo Wollmershäuser, 2014. "Smells Like Fiscal Policy? Assessing the Potential Effectiveness of the ECB's OMT Program," CESifo Working Paper Series 4628, CESifo.
    3. Paul Welfens, 2016. "Overcoming the euro crisis and prospects for a political union," International Economics and Economic Policy, Springer, vol. 13(1), pages 59-103, January.
    4. Sinn Hans-Werner, 2019. "Der Streit um die Targetsalden : Kommentar zu Martin Hellwigs Artikel „Target-Falle oder Empörungsfalle?“," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 20(3), pages 170-217, September.
    5. Franz-Christoph Zeitler & Marcel Fratzscher & Dietrich Murswiek & Manfred J.M. Neumann & Markus C. Kerber, 2014. "The German Constitutional Court’s Ruling on the ECB’s OMT Programme," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(06), pages 03-25, March.
    6. Martin Hellwig, 2019. "Target-Falle oder Empörungsfalle? – Zur deutschen Diskussion um die Europäische Währungsunion," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2019_05, Max Planck Institute for Research on Collective Goods.
    7. Martin Schütte, 2014. "Lessons from the Financial Crisis, Part Two: What Can Be Done?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(12), pages 20-25, June.
    8. Belke Ansgar, 2013. "Non-Standard Monetary Policy Measures – Magic Wand or Tiger by the Tail?," Review of Economics, De Gruyter, vol. 64(3), pages 341-368, December.
    9. Martin F. Hellwig, 2014. "Financial Stability, Monetary Policy, Banking Supervision, and Central Banking," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2014_09, Max Planck Institute for Research on Collective Goods.
    10. Winkler Adalbert, 2018. "Zehn Jahre nach dem Konkurs von Lehman Brothers: Ordnungspolitische Irrtümer in der Bewertung der EZB-Geldpolitik seit der globalen Finanzkrise," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 19(2), pages 141-162, July.
    11. Winkler, Adalbert, 2013. "Der lender of last resort vor Gericht," Frankfurt School - Working Paper Series 206, Frankfurt School of Finance and Management.
    12. Adalbert Winkler, 2014. "Rescues Violating the German Constitution:The Federal Court Decides on a Theory of Finance," FMG Special Papers sp231, Financial Markets Group.
    13. Wolf, Marvin, 2013. "Währungsunionen und Allmendeproblem," Hannover Economic Papers (HEP) dp-521, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    14. Siekmann, Helmut, 2015. "The legality of outright monetary transactions (OMT) of the European system of central banks," IMFS Working Paper Series 90, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    15. Winkler, Adalbert, 2014. "The lender of last resort in court," Frankfurt School - Working Paper Series 207, Frankfurt School of Finance and Management.
    16. Ansgar Belke, 2013. "Non-Standard Monetary Policy Measures – Magic Wand or Tiger by the Tail?," Ruhr Economic Papers 0447, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    17. Adalbert Winkler, 2014. "Finance, growth and crisis: a European perspective," Chapters, in: Ewald Nowotny & Doris Ritzberger-Grünwald & Peter Backé (ed.), Financial Cycles and the Real Economy, chapter 12, pages 199-216, Edward Elgar Publishing.

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