5 resultados para closed-loop
em Archive of European Integration
Resumo:
From the Introduction. Since the – presumed – utilization of chemical weapons against civilians by the Assad regime late August, the members of the Euro-Atlantic community have been building the case for a military intervention, a punishing mission against Bashar al-Assad. Despite evidences that sarin gas was used, the UK and Germany seem to be out of the race – for a similar reason: domestic politics –, leaving the US and France in the starting blocks. French President Hollande has expressed his commitment to go to war. The world is now on hold waiting for the US as President Obama, after asking US Congress to postpone a vote on a military intervention, is working on a possible diplomatic solution with Russian President Putin. Since Kerry’s comments in London earlier this week, Russian President Putin has been seeking for a diplomatic solution that would put all Syrian chemical arsenals under international supervision.
Resumo:
The recent crises have shown that the eurozone countries’ government debt is not immune to default. Applying a large-exposure requirement also to eurozone government debt would be a logical measure towards breaking the bank-government doom loop, given the low probability and high loss-given government default. But what would be the impact of the application of the large-exposure requirement on the banking sector as well as on government funding? This CEPS Policy Brief presents the results of a simulation exercise performed for 109 systemic banks in the eurozone, showing that their eurozone government debt portfolios would have to decrease by 3.2% or €63 billion, if a 50% of own-funds cap would be applied on large exposures. The eurozone central banks’ demand for sovereign bonds under the extended asset purchase programme further creates momentum to start gradually implementing the restriction.
