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Staatsschuldenkrise in Europa: Ist die Finanzierung der Schuldnerländer alternativlos?

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  • Smeets, Heinz-Dieter

Abstract

Der vorliegende Beitrag führt einen Vergleich zwischen der bisher dominierenden Finanzierung von Schuldnerstaaten auf der einen Seite und der Insolvenz solcher Länder, verbunden mit einer Rekapitalisierung der Banken, auf der anderen Seite durch. Hierzu werden die mit den beiden Strategien verbundenen Kosten gegenübergestellt und - unter möglichst realistischen Annahmen - miteinander verglichen. Im Mittelpunkt dieser Überlegungen steht Griechenland, weil die Probleme dort am gravierendsten sind. Gleichwohl wird bei den entsprechenden Vergleichen immer auch berücksichtigt, dass es zu so genannten Dominoeffekten kommen kann - also andere Mitgliedsländer durch Maßnahmen gegenüber Griechenland angesteckt und ebenfalls zu Krisenländern werden könnten.

Suggested Citation

  • Smeets, Heinz-Dieter, 2011. "Staatsschuldenkrise in Europa: Ist die Finanzierung der Schuldnerländer alternativlos?," DICE Ordnungspolitische Perspektiven 20, University of Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
  • Handle: RePEc:zbw:diceop:20
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    References listed on IDEAS

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    1. Hans-Werner Sinn & Timo Wollmershäuser, 2012. "Target loans, current account balances and capital flows: the ECB’s rescue facility," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(4), pages 468-508, August.
    2. Hans-Werner Sinn, 2011. "Target-Salden, Außenhandel und Geldschöpfung," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(09), pages 23-25, May.
    3. Paul Welfens, 2011. "Für zentralisierte Eurobonds, Strukturreformen und eine Euro-Union," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 91(9), pages 613-620, September.
    4. Ansgar Belke & Christian Dreger, 2011. "Das zweite Rettungspaket für Griechenland," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 91(9), pages 601-607, September.
    5. Heinz-Dieter Smeets, 2010. "Ist Griechenland noch zu retten?," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 90(5), pages 309-313, May.
    6. Hans-Werner Sinn, 2010. "Euro-Krise: Die Bedeutung des Gewährleistungsgesetzes für Deutschland und Europa," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 63(10), pages 03-09, May.
    7. Wolfgang Glomb, 2010. "Quo vadit Euro?," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 90(6), pages 350-351, June.
    8. Kopf, Christian, 2011. "An evaluation of the French proposal for a restructuring of Greek debt," CEPS Papers 5833, Centre for European Policy Studies.
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    Cited by:

    1. Coenen, Michael & Haucap, Justus, 2013. "Kommunal- statt Missbrauchsaufsicht: Zur Aufsicht über Trinkwasserentgelte nach der 8. GWB-Novelle," DICE Ordnungspolitische Perspektiven 53, University of Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).

    More about this item

    Keywords

    Staatsschuldenkrise; Schuldentragfähigkeit; Dominoeffekte; Bankenrekapitalisierung; Währungsunion; Euro;

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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