IDEAS home Printed from https://ideas.repec.org/h/pal/pmschp/978-0-230-37142-2_2.html
   My bibliography  Save this book chapter

The Impact of the Financial Crisis on Portuguese Banks: The Problem of Portuguese Sovereign Debt

In: Banking in Portugal

Author

Listed:
  • Anabela Sérgio
  • António Rebelo Sousa

Abstract

This chapter aims to analyze the effects of the 2008 financial crisis on the Portuguese financial system. The impact was twofold. On the one hand, the expansionary tax policy that followed increased the need for government funding and there was a trend toward recourse to the wholesale credit market. On the other hand, banks’ usual resources dried up (e.g., the interbank monetary market), pushing these institutions into much more expensive funding (for instance, bond issues), therefore squeezing financial intermediation rates. The huge increase of Portuguese government debt (well above 100%) led to a crisis of sovereign debt.

Suggested Citation

  • Anabela Sérgio & António Rebelo Sousa, 2016. "The Impact of the Financial Crisis on Portuguese Banks: The Problem of Portuguese Sovereign Debt," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Banking in Portugal, chapter 2, pages 9-20, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-37142-2_2
    DOI: 10.1057/9780230371422_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Armando Silva & Zbigniew Korzeb & Pawe? Niedzió?ka, 2021. "Impact of the COVID-19 crisis on the Portuguese banking system. Linear ordering method," Estudios Gerenciales, Universidad Icesi, vol. 37(159), pages 226-241, June.
    2. Badarau, Cristina & Huart, Florence & Sangaré, Ibrahima, 2021. "Macroeconomic and policy implications of eurobonds," International Review of Law and Economics, Elsevier, vol. 65(C).

    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:pal:pmschp:978-0-230-37142-2_2. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    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.