{"id":3449,"date":"2012-02-06T13:46:09","date_gmt":"2012-02-06T11:46:09","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=3449"},"modified":"2012-02-06T13:46:09","modified_gmt":"2012-02-06T11:46:09","slug":"whos-afraid-of-sovereign-bonds","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/whos-afraid-of-sovereign-bonds\/","title":{"rendered":"Who&#8217;s afraid of sovereign bonds?"},"content":{"rendered":"<p><a href=\"http:\/\/www.bruegel.org\/scholars\/scholar-detail\/scholar\/217-silvia-merler\/\" target=\"_blank\">Merler, Silvia<\/a>,\u00a0<a href=\"http:\/\/www.bruegel.org\/scholars\/scholar-detail\/scholar\/2-jean-pisani-ferry\/\" target=\"_blank\">Pisani-Ferry, Jean<\/a>.<\/p>\n<p>The crisis has underlined the strong interdependence between the euro-area banking and sovereign crises. To understand the role domestic banks have played in holding sovereign debt, a breakdown of government debt by holding sectors is required.<\/p>\n<p>The data shows that at the start of the crisis, most continental euro-area countries were characterised by the large size of their banks\u2019 portfolios of domestic government bonds, which were markedly larger than in the UK or the US. Consequently, concern about sovereign solvency was bound to have major consequences for banks.<\/p>\n<p><span style=\"font-size: small;\"><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Bruegel<\/span><\/p>\n<p><span style=\"font-size: small;\"><a href=\"http:\/\/www.bruegel.org\/publications\/publication-detail\/publication\/695-whos-afraid-of-sovereign-bonds\/\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Merler, Silvia,\u00a0Pisani-Ferry, Jean. The crisis has underlined the strong interdependence between the euro-area banking and sovereign crises. To understand the role domestic banks have played in holding sovereign debt, a breakdown of government debt by holding sectors is required. The data shows that at the start of the crisis, most continental euro-area countries were characterised [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,32],"tags":[26,27],"class_list":["post-3449","post","type-post","status-publish","format-standard","hentry","category-19","category-32","tag-26","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=3449"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3449\/revisions"}],"predecessor-version":[{"id":3450,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3449\/revisions\/3450"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=3449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=3449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=3449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}