The Cost of Interventions in the Financial Sector Since 2008 in the EU Countries

13 Pages Posted: 8 Apr 2017

Multiple version iconThere are 2 versions of this paper

Date Written: April 6, 2017


Since the start of the financial crisis, the advanced countries have deployed numerous measures in support of the financial system, requiring a sizeable volume of public funds. In the EU, aid has been authorised and subject to the conditionality required by the European Commission, in respect of its accountability for competition-related matters. This article explains the broad criteria for recording aid in general government accounts and discusses the different ways of measuring its direct cost. On Eurostat figures for the 2008-2015 period, the impact of interventions on general government accounts in terms of debt, debt net of assets, deficits and contingent liabilities are shown for the EU countries. Nevertheless, the final cost will not be fully identified until the restructuring processes outstanding have been concluded and the public sector’s remaining exposure to the banking sector has been removed.

Suggested Citation

Millaruelo, Antonio and Del-Rio, Ana, The Cost of Interventions in the Financial Sector Since 2008 in the EU Countries (April 6, 2017). Banco de Espana Article 10/17. Available at SSRN:

Antonio Millaruelo (Contact Author)

Banco de España ( email )

Alcala 50
Madrid 28014

Ana Del-Rio

Banco de España ( email )

Madrid 28014

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