{"id":514,"date":"2014-04-04T00:25:18","date_gmt":"2014-04-03T21:25:18","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=514"},"modified":"2023-08-02T15:02:51","modified_gmt":"2023-08-02T12:02:51","slug":"banking-crisis-future-banking","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/banking-crisis-future-banking\/","title":{"rendered":"Banking Crisis and the Future of Banking"},"content":{"rendered":"<p><strong>Banking Crisis and the Future of Banking<\/strong><br \/>\nAuthor: Gikas A. Hardouvelis<br \/>\nVenue: Multinational Finance Society Symposium, Spring 2014, Round table Discussion on &#8220;The Future of Banking and Cyprus,&#8221; with P. Florides, A. Michaelides and St. Zenios, Larnaca, Cyprus<br \/>\n<em>April 4, 2014<\/em><\/p>\n<p>Abstract:<\/p>\n<p>* Cypriot banking is large relative to other European countries and kept growing until<br \/>\n2009<br \/>\n* Private debt is also very high in Cyprus, revealing a vulnerable financial sector<br \/>\n* The international crisis was a financial crisis, hence European financials were hit very<br \/>\nhard, with the price of bank credit risk still remaining very high today<br \/>\n* The EMU crisis was more than a financial crisis, as it was caused by additional<br \/>\nimbalances in the fiscal sector and the external sector<br \/>\n* All three legs of the EMU crisis (Banking, real economy, fiscal) are present in Cyprus<br \/>\n* Cypriot imbalances in the current account date way back, but the fiscal imbalances<br \/>\nstarted in 2009<br \/>\n* The bail-in was tried on Cyprus for the first time in March 2013 and caused an<br \/>\nimmediate crisis<br \/>\n* A plethora of European policies to resolve the crisis, especially in the financial sector<br \/>\n* A banking union is slowly forming in EMU<br \/>\n* Cyprus needs to stabilize its financial system and remove capital controls before it can<br \/>\nhope to escape the recession<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2017\/12\/Future-_of_Banks_MFS_Cyprus_April_04_2014.pdf\">Download Banking Crisis and the Future of Banking pdf<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Banking Crisis and the Future of Banking Author: Gikas A. Hardouvelis Venue: Multinational Finance Society Symposium, Spring 2014, Round table<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[3249,3250],"yst_prominent_words":[364,829,341,821,828,823,444,102,179,824,190,230,660,825,530,419,822,827,826],"class_list":["post-514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speeches-presentations","tag-economic-analysis","tag-oikonomikes-analyseis"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=514"}],"version-history":[{"count":2,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/514\/revisions"}],"predecessor-version":[{"id":1404,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/514\/revisions\/1404"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=514"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}