IDEAS home Printed from https://ideas.repec.org/a/cai/refaef/ecofi_112_0299.html
   My bibliography  Save this article

Pouvait-on éteindre la crise financière chypriote sans affaiblir durablement l'Europe ?

Author

Listed:
  • Jean Messiha
  • Bruno-Laurent Moschetto
  • Frédéric Teulon

Abstract

The two major banks in Cyprus ? Bank of Cyprus and Laiki Popular Bank ? have lost more than ?4 billion because of their exposure to the Greek bond market. In this paper, we look at how the European Union has responded to banking and financial problems that affected Cyprus since the end of 2011. Although the financial crisis is minor in absolute terms, it showed that even the failure of a small country can generate systemic risk throughout the euro area. The rescue plan drawn up by the European Commission, the European Central Bank and the IMF was adopted very late. Taxation of deposits and exchange controls establishment create an unprecedented situation that could affect investor confidence in the euro area. Furthermore the control of Cyprus gives authorities very small margins of action and may jeopardize the future of this country. Classification JEL: E50, F36, G21.

Suggested Citation

  • Jean Messiha & Bruno-Laurent Moschetto & Frédéric Teulon, 2013. "Pouvait-on éteindre la crise financière chypriote sans affaiblir durablement l'Europe ?," Revue d'économie financière, Association d'économie financière, vol. 0(4), pages 299-316.
    • Handle: RePEc:cai:refaef:ecofi_112_0299
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOFI_112_0299
    Download Restriction: free
    File URL: http://www.cairn.info/revue-d-economie-financiere-2013-4-page-299.htm
    Download Restriction: free
    ---><---

    More about this item

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:refaef:ecofi_112_0299. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-d-economie-financiere.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.