Since the seventies until the present many countries have experienced banking crises. These phenomena, which have been caused by a combination of both internal and external macro and microeconomic factors, have happened in both developed and undeveloped countries. They demonstrated the fragility of the financial system under the explosive growth in the volume of transactions and the growing complexity of financial instruments. This paper presents the factors that give rise to financial crises, outlines the decisions which the authorities initially took for its containment, as well as shows and analyzes the auction of financial assets as a strategy used to reduce the cost of resolution of itself.
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