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The Financial Crisis in Europe: Evolution, Policy Responses and Lessons for the Future

27 Pages Posted: 5 Jun 2009  

John Goddard

University of Wales System - Bangor University

Philip Molyneux

Bangor Business School

John O. S. Wilson

University of St. Andrews

Date Written: June 5, 2009

Abstract

This article provides an account of the development of the financial crisis in western Europe, primarily from a country-level and banking sector perspective, from 2007 to the spring of 2009. Measures enacted by governments and central banks to deal with impaired bank assets, recapitalize or otherwise resolve troubled banks, and inject liquidity into the banking system, are described. The article examines the longer-term policy lessons from the crisis, and considers a range of reform proposals aimed at creating a more secure and stable financial system.

Keywords: European banking, cross-border banking, financial crisis, bank regulation, bank supervision

Suggested Citation

Goddard, John and Molyneux, Philip and Wilson, John O. S., The Financial Crisis in Europe: Evolution, Policy Responses and Lessons for the Future (June 5, 2009). Available at SSRN: https://ssrn.com/abstract=1414935 or http://dx.doi.org/10.2139/ssrn.1414935

John Goddard

University of Wales System - Bangor University ( email )

Bangor, Gwynedd, Wales LL57 2DG
United Kingdom

Philip Molyneux

Bangor Business School ( email )

Bangor Business School
College Road
Gwynedd LL57 2DG, Wales LL57 2DG
United Kingdom

John O. S. Wilson (Contact Author)

University of St. Andrews ( email )

North St
Saint Andrews, Fife KY16 9AJ
United Kingdom

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