Monetary Policy In The Context Of The European Sovereign Debts
The crisis of the sovereign debts in Europe challenged the monetary policy of the European Central Bank (ECB) to maintain price stability and to encourage the credits for economic activities under the conditions of a rather uncertain environment with precautious investors and under the conditions of faltering fiscal sustainability of the Euro Area member states. The paper approaches the issue of the monetary effects generated by the crisis of the sovereign debts within the Eurozone starting with a brief description of the European sovereign bonds market, starting with the period before the euro project implementing. The particularities of the monetary transmission mechanism caused by the effects of the sovereign bonds crisis reveal specific constraints of the current monetary policy. The article is subject to the complex issues related to the monetary integration process and the operation of the optimum currency areas.
Volume (Year): 16 (2012)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: |
Phone: 004 021 3182419
Fax: 004 021 3182419
Web page: http://www.icfm.ro/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:vls:finstu:v:16:y:2012:i:4:p:23-34. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Daniel Mateescu)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.