Journal articles on the topic 'Financial crises – Europe, Southern'
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Verney, Susannah. "Flaky Fringe? Southern Europe Facing the Financial Crisis." South European Society and Politics 14, no. 1 (March 2009): 1–6. http://dx.doi.org/10.1080/13608740902995794.
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Scholten, Daniel, and Miroslava Scholten. "Towards a European Division of Labour: Do Europe’s Crises Highlight Structural Challenges to Sustainable Economic Growth in the Eurozone?" European Review 22, no. 3 (June 30, 2014): 382–87. http://dx.doi.org/10.1017/s1062798714000222.
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The financial and economic crises of the last few years in many Southern Eurozone countries are generally studied individually, without reference to other such crises in the region. In this note, we argue that they may also be approached as symptoms of an underlying structural challenge facing the EU economy. In many ways the relationship between northern and southern Eurozone countries seems remarkably similar to typical economic centre–periphery relations, yet without the harmonizing role that a national government could play. The occurrence and combination of crises seems to be indicative of what one would expect from the adverse effects of centre–periphery relations among countries. Unfortunately, this would imply that the crises we are currently seeing are likely to continuously reoccur in the near future to the detriment of sustainable economic growth and political-economic stability in Europe.
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Casquilho-Martins, Inês, and Helena Belchior-Rocha. "Responses to COVID-19 Social and Economic Impacts: A Comparative Analysis in Southern European Countries." Social Sciences 11, no. 2 (January 20, 2022): 36. http://dx.doi.org/10.3390/socsci11020036.
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The COVID-19 pandemic globally affected European societies. This new crisis arrived after a period of gradual recovery from the 2008 financial crisis that had jeopardized the achievement of Europe Strategy 2020 (ES2020) targets. The need to recover for the Southern European countries, which had austerity programs during the financial crisis, is crucial to ensure a continuum of economic and social development. This study aims to analyze the impact of the two last international crises on the accomplishment of ES2020 goals and how the ‘NextGenerationEU’ program presents a mechanism to recover from the pandemic’s socioeconomic impacts. We analyzed secondary statistical data from Eurostat and official European documents. Additionally, we carried out a systematic analysis of 162 measures of the recovery and resilience plan from Southern European countries (Greece, Spain, Italy, and Portugal). The results showed that ES2020 targets were at risk, particularly in the field of employment, combating poverty, and social exclusion. Currently, there is strong European investment in response to the socioeconomic impacts of the pandemic, with all countries defining measures adjusted to protect the most vulnerable groups. However, the implications of these responses require a political commitment for them to effectively contribute to sustainable recovery and development.
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Benítez-Aurioles, Beatriz. "Tourism Resilience Patterns in Southern Europe." Tourism Analysis 25, no. 4 (December 7, 2020): 409–24. http://dx.doi.org/10.3727/108354220x16010020096118.
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This article studies the patterns of tourism resilience, understood as the capacity to recover tourism demand, which has characterized Spain, Greece, Italy, and Portugal after the impact of the global financial crisis of 2008 and 2009. A shift-share analysis will allow us to decompose the growth of nonresident tourist arrivals to hotels and similar establishments originating from markets outside these four countries in 2009–2016. The technique used allows us to classify the markets according to the competitive advantage or specialization demonstrated by each country. The results reveal some similarity in resilience patterns in tourism between Portugal and Spain, whereas Italy and Greece maintain their own singularities. In this context, some ideas are suggested for the design of a tourism policy that makes the most of the potential of each country.
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Perez, Sofia A. "The Pandemic and the Long Shadow of Austerity in Southern Europe." Current History 122, no. 842 (March 1, 2023): 95–100. http://dx.doi.org/10.1525/curh.2023.122.842.95.
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Greece, Italy, Spain, and Portugal have suffered some of Europe’s worst health outcomes in the COVID-19 pandemic. The same countries also bore the brunt of the European sovereign debt crisis a decade earlier, when they were forced to undertake severe budget austerity measures in return for financial support from European institutions. Austerity left their economies and health care systems weakened when the pandemic arrived. Yet they were able to avoid another surge in unemployment, showing that some lessons were learned from the financial crisis.
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Jasiecki, Krzysztof. "The coronavirus and center-peripheral relations in the economies of the European Union." International Journal of Management and Economics 58, no. 3 (September 1, 2022): 235–47. http://dx.doi.org/10.2478/ijme-2022-0017.
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Abstract From the perspective of the diversity of capitalism and that of economic sociology, the article deals with the issue of center-peripheral relations as one of the key dimensions of economic diversification that determines the development opportunities of the European Union. The collapse of the convergence processes during the 2008–2010 financial crisis revealed the separateness of development trajectories of various countries and geographical regions of the EU. Without reversing this phenomenon and working out new mechanisms of development convergence and institutions supporting them, the process of European integration will enter further structural crises that may lead to the disintegration of the EU. Various classifications of the core and of the peripheries of the euro area are characterized, within which several types of countries are identified with different economic characteristics (countries of the Northern core and of the Southern peripheries of the euro area, different types of peripheries in Southern Europe and in Central and Eastern Europe, the internal core and the external core or the outer core, and the internal peripheries and the external peripheries, as well as the super-peripheries including candidates or potential candidates to join the EU). The COVID-19 crisis has an asymmetric impact on the economic situation of the Member States. As with other crises, this impact will be the result of the interconnection of the prior state of economies, structural differences in growth patterns, and responses to new challenges brought about by the pandemic. Also, the consequences of the pandemic for the reconfiguration of center-peripheral relations in the EU are discussed, with a particular focus on the CEE.
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Charalambous, Giorgos, Nicolò Conti, and Andrea Pedrazzani. "The political contestation of European integration in Southern Europe." Party Politics 24, no. 1 (January 2018): 39–51. http://dx.doi.org/10.1177/1354068817740756.
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The ways in which political actors form positions on European integration in the face of exogenous shocks, such as the financial crisis that spilled over to the Eurozone countries, have become a key question in studies of politics in Europe. In the article, we show that party system polarization over European integration has increased during the crisis, but only with respect to the parties’ public stance. Instead, the crisis does not appear to pose a real threat to the consensus on the European Union among party elites serving in public office, which remains almost as strong as before. Hence, a so far unconsidered consequence of the crisis may concern a mounting tension inside political parties, between a leadership that is more sensitive to popular pressures and to Euroscepticism and public office holders that reiterate the traditional elite consensus on Europe.
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Capucha, Luís, João Sebastião, Susana da Cruz Martins, and Ana Rita Capucha. "Crisis and Education in Southern Europe: The Effects of Austerity and Ideology." Comparative Sociology 15, no. 5 (October 7, 2016): 593–620. http://dx.doi.org/10.1163/15691330-12341402.
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Since the mid-1970s, the countries of Southern Europe have been approaching European education patterns. This result can be observed in the positive dynamics and convergence with the rest of Europe. However, despite these visible results, the convergence was more evident up until the outbreak of the crisis, where the overall economic and political conditions also brought changes in policymaking in education to the Southern European countries, both in terms of policy priorities and educational outcomes. Therefore, while economic hardship and austere programs are a common trait in recent years, the changes cannot be directly or simply attributed to economic or financial constraints; these changes are mainly due to different political options endorsed by the governments of Portugal, Spain, Italy, and Greece. The main empirical sources are the Eurostat and theoecd. Other empirical material relates to national reports produced in the framework of an international project:ecseInternational Report, Educational Challenges in Southern Europe. Equity and efficiency in a time of crisis.
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Díez-Esteban, José María, Jorge Bento Farinha, and Conrado Diego García-Gómez. "The role of institutional investors in propagating the 2007 financial crisis in Southern Europe." Research in International Business and Finance 38 (September 2016): 439–54. http://dx.doi.org/10.1016/j.ribaf.2016.07.006.
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Joerges, Christian. "Europe's Economic Constitution in Crisis and the Emergence of a New Constitutional Constellation." German Law Journal 15, no. 5 (August 1, 2014): 985–1027. http://dx.doi.org/10.1017/s2071832200019234.
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The European Union rides through troubled waters. Its original reliance on law as the object and agent of the integration project and on the “economic constitution,” which the Economic and Monetary Union (EMU)—as accomplished by the Treaty of Maastricht— expected to complete, have proven unsustainable. Following the financial and sovereign debt crises, individuals perceive the EMU, with its commitments to price stability and monetary politics, as a failed construction precisely because of its reliance on inflexible rules. The European crisis management seeks to compensate for these failures by means of regulatory machinery which disregards the European order of competences, takes power from national institutions, and burdens—in particular—Southern Europe with austerity measures; it establishes pan-European commitments to budgetary discipline and macroeconomic balancing. This abolishes the ideal of a legal ordering of the European economy, while the economic and social prospects of these efforts appear gloomy and the Union's political legitimacy becomes precarious. A fictitious debate between Carl Schmitt and Jürgen Habermas addresses the present critical constellation, where a number of Schmittian notions seem alarmingly realistic. This essay pleads for a more modest Europe committing itself to “unity in diversity,” the motto of the ill-fated Constitutional Treaty of 2003.
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Blažek, Jiří, and Tereza Hejnová. "Geography, ownership and uneven trends in the economic performance of small banking centres in Europe during the financial crisis." European Urban and Regional Studies 27, no. 4 (June 22, 2020): 359–78. http://dx.doi.org/10.1177/0969776420930757.
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The current phase of intensive globalisation, digitisation, the expansion of fintech companies and the overall impacts of the recent crisis seem to spur further concentration in the banking sector in terms of both the number of banks in operation and the number of banking centres. This research is motivated by the fact that, in contrast to leading financial and banking centres that attract considerable research attention, small banking centres have remained under-researched, despite their large number and the important role they play in their host communities and regions. This paper deals with the recent evolutionary dynamics of 199 small European banking centres and is based on an analysis of the economic performance of individual banks aggregated at the city level where they have their headquarters. The analysed indicators cover size, profitability and the level of risk of particular banks over the 2004–2015 period. In addition, the data were analysed for three basic European macro-regions (western Europe, southern Europe and central and eastern Europe) and in terms of the ownership of the banks headquartered in particular centres (foreign versus domestic). Our investigation shows that, even though a significant decline has been observed in the number of these centres, the financial performance of banks headquartered in small financial centres differs widely, depending significantly upon the European macro-region (a decisive number of defunct banking centres was concentrated in southern Europe) and the ownership structure.
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Dauderstädt, Michael. "Cohesive Growth in Europe: A Tale of Two Peripheries." Intereconomics 56, no. 2 (March 2021): 120–26. http://dx.doi.org/10.1007/s10272-021-0964-y.
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AbstractOver the last two decades, income disparities between EU member states tended to decline, particularly before the financial crisis. While Central and Eastern Europe caught up with the EU average, Southern Europe fell behind after 2009. Catch-up growth in both peripheries relied on nominal convergence (real appreciation) and foreign capital. Further growth can and should be fostered by an economic policy that does not neglect domestic demand, stabilises capital markets and invests in research, education, health and intangibles.
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Agiannidou, Christiana, and Ruska Bozhkova. "INTERCULTURAL EDUCATION AMIDST FINANCIAL CRISIS IN GREECE." Economics & Law 3, no. 1 (May 30, 2021): 1–17. http://dx.doi.org/10.37708/el.swu.v3i1.1.
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The present work is a contribution to the term of Inter-cultural education that presents enormous interest worldwide and more in the countries of Southern Europe. One of these countries that face intensely the migrant problem, is Greece. The number of refugees’ children who finish up a school level in Greece, and in the same time they try to survive is extremely high. For this reason, the aid of supported structures of education for foreign students in Greece, is needed. However, the importance of the intercultural education in Greece with the simultaneous reduction of funds on Greek education, caused a lot of discussions. As an outcome it is aimed to observe the opinions and the attitudes of teachers that are involved in the intercultural educational process in Greece. A parallel research will be carried out also the in public elementary schools of Chios island, that entertain foreign students. Finally, from the results of this research, would try to infer safe conclusions from specific assumptions.
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Gervasio, Daniele, and Damiano Montani. "Credit Institutes’ Disclosure and Presentation of Derivatives after the Crisis." International Journal of Business and Management 12, no. 2 (January 25, 2017): 123. http://dx.doi.org/10.5539/ijbm.v12n2p123.
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Asked to reconstruct and interpret the causes of the current global crisis, an archaeologist of the fourth millennium could easily find himself sifting through the deluge of publications on the subject of financial instruments known as “derivatives”.The study analyses the disclosure methods adopted for derivative instruments reported in the balance sheets of major banks in central and southern Europe in the period from 2005 to 2012 for the purpose of outlining the types and methods of use in the trading markets amongst retail investors and bank intermediaries.In the light of the analysis conducted, it is possible to observe how the recent financial crisis has not changed the negotiation strategies of the international banking system with regard to derivatives; financial institutions reputed to be amongst the most famous in Europe are, in fact, still intoxicated by these derivative instruments.This paper presents an empirical-analytical approach with a series of keys to understanding the derivative market today in the post-crisis period.
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Christodoulou, George N., and Mohammed T. Abou-Saleh. "Greece and the refugee crisis: mental health context." BJPsych. International 13, no. 4 (November 2016): 89–91. http://dx.doi.org/10.1192/s2056474000001410.
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The recent influx of refugees and immigrants to Greece has coincided with the ongoing and deteriorating financial crisis. This situation does not allow the Greek authorities to provide help to the desired extent. Yet, the church, local communities, medical societies and non-governmental organisations are offering good psychosocial support. In parallel with support for refugees it is important to provide support for the citizens of the host country. The rich countries of northern Europe should help the poorer countries of southern Europe cope with the refugees. A number of important declarations on refugee mental health and related issues have been produced recently, including the Anti-war Declaration of Athens.
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Chytis, Evangelos, Vasilia Liota, Spiridon Goumas, and Aristidis Papagregoriou. "Impact of the Global Financial Crisis on the IT Sector." International Journal of Corporate Finance and Accounting 9, no. 1 (January 2022): 1–11. http://dx.doi.org/10.4018/ijcfa.287909.
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The impact of the Information and Technology (IT) sector on the countries’ innovation development has been recognized as crucial in prior and recent research studies. Moreover, firms’ innovativeness affects positively countries’ economies. Nevertheless, the global economic crisis of the last decade constituted a significant barrier to the development of country economies and had a negative effect on firms’ performance. Specifically, the negative consequences of the global crisis became harder for Southern Europe Countries. More specifically the Greek economy was suffered by an extended period of crisis with harder consequences than those of other European countries. The main purpose of this study was to examine the financial performance of Greek IT firms in the early years of crisis. Our findings have been relevant to those of previous studies which observed negative effects of the financial recession on firms profitability.
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Patias, Nikos. "Exploring long-term youth unemployment in Europe using sequence analysis: a reproducible notebook approach." REGION 6, no. 3 (January 21, 2020): 53–69. http://dx.doi.org/10.18335/region.v6i3.277.
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Youth unemployment is a factor influencing European policy. The effects of financial crisis of 2008 in youth unemployment were prominent and varied across European countries and regions. This notebook aims to identify key representative trajectories of youth unemployment by NUTS 2 regions in Europe from 2008 to 2018. Moreover, this notebook provides a self-contained research workflow that is fully reproducible and transparent, using a wide range of functionalities offered by computational notebooks. The results show that there is a divide between northern and southern regions. Northern regions follow stable low youth unemployment levels, while southern regions follow stable high youth unemployment levels. Finally, the results show that there are patterns of regional inequalities between major metropolitan areas and their adjacent regions.
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Augusto, Gonçalo F., Ioannis Hodges-Mameletzis, Marina Karanikolos, Alexandre Abrantes, and Maria R. O. Martins. "HIV prevention and treatment in Southern Europe in the aftermath of bailout programmes." European Journal of Public Health 30, no. 5 (May 3, 2020): 967–73. http://dx.doi.org/10.1093/eurpub/ckaa062.
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Abstract Background The global financial crisis impacted public health in Europe, and had a particularly critical detriment to health systems in Southern Europe. We aim to describe HIV response and progress towards the current global HIV targets in specific Southern European countries, which received financial adjustment programmes. Methods We examined and compared a set of HIV indicators in Cyprus, Greece, Portugal and Spain. The indicators included: (i) HIV epidemiology; (ii) adoption of WHO’s ‘Treat All’ recommendation; (iii) progress towards the UNAIDS global targets of 90–90–90; (iv) adoption/implementation of pre-exposure prophylaxis (PrEP); and (v) adoption/implementation of WHO’s HIV self-testing (HIVST) recommendation. Results HIV incidence varied across countries since 2010, with sustained declines in Portugal and Spain, and marked increases in Greece and Cyprus. By 2016, all four countries have adopted WHO’s ‘Treat All’ recommendation, leading to a marked increase in people receiving ART. Improvements were seen in all 90–90–90 targets, with Portugal achieving those in 2017, but Greece lagging somewhat behind, as of 2016. Portugal and Spain have also started implementing PrEP, and Greece has completed a pilot with no additional access to PrEP for pilot participants and no national programme in place. Cyprus has been the slowest in terms of adopting PrEP and HIVST. Conclusions Countries need to focus on prioritizing effective and comprehensive prevention measures, including HIVST and PrEP, and scale-up access to quality treatment and care for those diagnosed, in order to accelerate the reduction of new HIVs infections and successfully meet the global targets for HIV treatment.
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Correia, Tiago, Gilles Dussault, and Carla Pontes. "The impact of the financial crisis on human resources for health policies in three southern-Europe countries." Health Policy 119, no. 12 (December 2015): 1600–1605. http://dx.doi.org/10.1016/j.healthpol.2015.08.009.
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Ziogas, Ioannis, and Theodore Metaxas. "Corporate Social Responsibility in South Europe during the Financial Crisis and Its Relation to the Financial Performance of Greek Companies." Sustainability 13, no. 14 (July 19, 2021): 8055. http://dx.doi.org/10.3390/su13148055.
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This paper aims at presenting the notion of corporate social responsibility in Europe by examining its application in Southern European countries, Greece, Italy, Spain and Portugal. These major Mediterranean countries, beside the geographical proximity and common features, were at the center of the financial crisis in Europe in 2009. The aforementioned countries are under evaluation on the one hand as a European region and on the other hand as independent ones. Considering the complexity of CSR, its aspects through time, its diversity depending on the geographical position and the necessity of ethical CSR as part of business activity, this paper presents a new categorization of existing quantitative indicators and a method of evaluation that covers the multidimensional notion of CSR. The new model, which combines quantitative indicators, is used to measure CSR during the period from 2009 until 2016 and reflects companies’ ethical policy, the degree of understanding their moral obligations. The longitudinal comparative analysis is the starting point for further improvement as the countries, except for Portugal, are fluctuating within low levels and the Mediterranean region as a whole in average ones. Furthermore, having estimate CSR index, the examination of the financial performance of Greek companies within the period 2015-2016 confirms the majority of the literature that the adoption of CSR’s good practices, is not only a moral rule, but contributes at least partly, to the development of their effectiveness. As a conclusion, the structure of a commonly acceptable measurement model of the National Social Responsibility and the longitudinal measurement will be a useful tool for all involved institutions, with immediate results to both the society and the companies.
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Bąk, Iwona, and Katarzyna Cheba. "Study of spatial uniformity of sustainable development of the European Union before, during and after the economic crisis." Przegląd Statystyczny 65, no. 2 (January 30, 2019): 224–48. http://dx.doi.org/10.5604/01.3001.0014.0537.
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The purpose of the paper is study of spatial uniformity in the field of sustainable development of European Union and geographical regions of Europe analyzed by the prism of EU countries located in this regions before, during and after the economic crisis from 2007–2008. Material and methods The analysis of similarities and differences between the EU Member States countries or in the case of geographic regions of Europe has been based on sustainable development indicators published by Eurostat. To the final set of diagnostic features, the 22 indicators have been selected. To study the spatial differentiation of sustainable development the taxonomic measure of development based on median vector Weber as well vector calculus were used. The impact of the economic crisis is particularly obvious in the Southern and Eastern European Union countries. The position of the Southern countries, that failed to cope with the world economic and financial crisis, deteriorated and they fell into the group at the lowest level of development. The results obtained in this study can be used in subsequent years to examine the direction of changes in sustainable development levels observed both from the point of view of the EU Member States and geographical regions.
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Mirocha, Piotr. "Europa i jej wyobrażone granice w medialnym dyskursie chorwackim po 2012 roku." Politeja 16, no. 1(58) (October 31, 2019): 153–71. http://dx.doi.org/10.12797/politeja.16.2019.58.09.
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Europe and Its Imaginary Borders in the Croatian Media Discourse after 2012
Today Croatia is one of the countries situated on the border of the European Union. It joined the EU in 2013, i.a. already after the financial crisis of 2008 and just before the permanent crisis resulting from the indebtedness of the Southern peripheries of the EU, revealing of the humanitarian situation of migrants at the Mediterranean and Balkan borders of the Union, as well as a rise in xenophobia in numerous member states. Therefore, imaginary borders of Europe in the Croatian media discourse after 2012 can be a significant research field. This paper presents preliminary results of an analysis of a large corpus of articles from the Internet issue of a daily newspaper Večernji list from October 2012 until October 2017. The analysis is focused on the linguistic modelling of the notion of Europe (especially in the context of the European integration) and its limits (especially in the context of migration). A brief background concerning the cultural history of the notion of Europe in the Croatian cultural universe is also provided.
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Venegas, Mar, María Dolores Martín-Lagos, Ana Romão, and Luis Baptista. "Introduction to the Special Issue. Connecting sociological research with social problems and public policies: implications for Southern European Societies." Revista Española de Sociología 29, no. 1 (January 3, 2020): 9–13. http://dx.doi.org/10.22325/10.22325/fes/res.2020.01.
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Europe is facing new and radical challenges that demand extraordinary resilience from EU members, especially southern European societies, because of their outlying position and specific social problems in comparison with their EU neighbours. The difficulties of building a united Europe in the wake of the economic, financial and political crisis have exposed divergences in EU governance. In this context, sociology is an important tool to inform public policies and to provide the general public with an understanding of current challenges. The uses of sociology have social, political and practical implications in fields that are especially significant for southern European societies, such as welfare, work and employment, education, migration, social cohesion and political participation. However, the usual tensions in the organization of scientific research are now particularly intense in terms of how the sociological knowledge utility is understood and communicated. The trend toward internationalization in current research systems forces research communities to compete in a global market of scientific production, where English is the dominant language, and to publish results for an academic audience. Simultaneously there is a pressing need to make sociological knowledge relevant and applicable to regional and localproblems.
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Kubacki, Konrad, and Agnieszka Słuszniak. "Economic Development Path of Poland: Innovation and Competitiveness in Light of the Situation of Southern European Countries." International Journal of Management and Economics 40, no. 1 (October 17, 2014): 119–40. http://dx.doi.org/10.2478/ijme-2014-0031.
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Abstract The financial crisis of 2007 revealed structural weaknesses in many European countries, particularly in Southern Europe. The goal of this article is to identify the existing economic situation in the four main Southern European countries: Greece, Italy, Portugal, and Spain (GIPS), and in Poland, conduct a comparative analysis of the development paths and competitiveness levels of these countries using statistical data as well as existing scientific literature, and finally to formulate suggestions for a new development path of Poland. The results of the analysis suggest that Poland's development is currently on a turning point, portraying many similarities to Southern European economies after their EU accession, as well as before the crisis. The authors come to a conclusion that unless Poland undertakes crucial reforms, particularly in the field of its innovation system, business environment, implementation of EU funds, and overall strategic long-term planning, it is inevitable that its economic growth will slow down, possibly falling into a middle-income trap. Poland might not avoid the same mistakes of GIPS, that failed to implement adequate reforms in times of economic growth, what today results in suffering from serious consequences. T is paper presents a unique view on the future economic development of Poland in relation to the paths already undertaken by Southern European economies.
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Alzaga Villaamil, Óscar. "Invitación, desde el realismo, al estudio de la construcción política de Europa = Invitation from the realism, to the study of the political construction of Europe." Teoría y Realidad Constitucional, no. 32 (July 1, 2013): 75. http://dx.doi.org/10.5944/trc.32.2013.11780.
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La crisis económica española, evidenciada tras el estallido de la gran burbuja inmobiliaria ha dejado sobre la mesa toda una serie de preguntas, que el autor enuncia a los efectos de entender la hondura del problema que llevó a que Europa empujase a España a la reforma en 2011 de su constitucionalismo económico. Esta reforma siguió el camino trazado por las previas revisiones de los textos constitucionales afrontadas en Polonia, Suiza y Alemania. Pero las cuentas públicas de ciertos estados del sur de la Unión Europea han pasado a constituir un problema para la política económica y financiera de toda la UE, cuya solución se ha convertido en una oportunidad para avanzar en su construcción política, trance en que los constitucionalistas deben aportar sus mejores esfuerzos.The Spanish economic crisis, evidenced after the outbreak of the great housing bubble has left on the table a series of questions, which the author states the purpose of understanding the depth of the problem that led Europe push Spain to the reform in 2011 of its economic constitutionalism. This reform followed the path set by the previous reviews the constitutions faced in Poland, Switzerland and Germany. But the public accounts of certain southern states of the European Union have come to constitute a problem for the economic and financial policy across the EU, whose solution has become an opportunity to advance their political construction, situation in which the Constitutionalists should make their best efforts.
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Riy, Grygoriy. "Approaches of Southern European countries in supporting Ukraine after the full-scale Russian invasion." European Historical Studies, no. 22 (2022): 104–24. http://dx.doi.org/10.17721/2524-048x.2022.22.7.
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The article is devoted to reviewing the government’s response of Southern European countries (Italy, Spain, Portugal and Greece) to the full-scale invasion of Russia in Ukraine on 24 February 2022, which is based on the analysis of the researches, analytical papers, and official reports of the state authorities and mass media. Coverage of this topic is explained by the necessity of the full exploration of the Sothern European governments’ key approaches in supporting Ukraine in the struggle with the Russian army, as well as, discovering some new perspectives, using the comparative and transnational methodology. It is defined the term “Southern Europe”, and also outlined the main historiographical interpretations of the countries of the region. Preference is given to a pragmatic approach for characterising the countries of Southern Europe. The central studies of Ukrainian-Italian, Ukrainian-Spanish, Ukrainian-Portuguese and Ukrainian-Greek relations, official reports and mass media used in the study are analysed. It also analyses and compares the changing Southern European governments’ attitudes towards their supporting Ukraine after the Revolution of Dignity, the illegal annexation of Crimea, and the beginning of war in Donbas in 2014, with the united international response after the full-scale Russian invasion on 24 February 2022. In general, the governments of Italy, Spain, Portugal and Greece changed completely their policy of supporting or non-supporting Ukraine in the war. If after 2014 they tried to be pragmatic in the question of cutting ties with the Russian Federation in their foreign policy activity, then after the full-scale invasion in 2022 they strongly condemned Putin’s regime and agreed to provide assistance to Ukraine to the extent of their military and financial capabilities. The study found that the assistance of Southern European countries has been provided on the Atlantic (through NATO) and European (through EU) levels, as well as national. Defence ministers of the governments of Southern Europe are among the members of the “Ramstein” meetings, where the provision of military aid to Ukraine is coordinated. The countries of the region have so far given priority to humanitarian, financial aid and lethal weapons assistance (but not heavy ones), and have also accepted a large number of Ukrainian refugees. The assistance provided at each of the levels is illustrated by specific examples. Otherwise, Russian influence on domestic policy, national populistic parties and single members of the government or parliament is still strong. For instance, the Italian governmental crisis that happened in the mid-summer was the result of the unpopular and strong position of the prime minister Mario Draghi in his unwavering support of Ukraine. The countries of the region also see the Russian-Ukrainian war as an opportunity for them to strengthen their influence in the Mediterranean.
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Janoschka, Michael, Georgia Alexandri, Hernán Orozco Ramos, and Sonia Vives-Miró. "Tracing the socio-spatial logics of transnational landlords’ real estate investment: Blackstone in Madrid." European Urban and Regional Studies 27, no. 2 (January 20, 2019): 125–41. http://dx.doi.org/10.1177/0969776418822061.
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The rapid internationalisation of the Spanish property market has triggered debates about the main characteristics of emerging post-crisis urban dynamics. Financial and urban policy reforms have shaped a model depicted by incessant rent increases and displacements. Echoing these concerns, this article addresses two interconnected objectives about the way policy restructuring encouraged transnational investments into Spanish real estate and the concomitant socio-spatial effects this wider asset reshuffling has produced. Both queries are discussed by pinpointing the multi-scalar investment strategies of the private equity firm, Blackstone, which emerged as the predominant institutional investor during the recovery phase of the Spanish property market. The article initially sketches out the trajectory of the political economy of housing in Spain, and then it focuses on the strategies pursued by Blackstone for the acquisition of real estate and housing stock. The following sections connect the nodes of the financial chain that link this investor to former social housing tenants whose homes are by now owned by Blackstone. The spatial and social effects of this change in property ownership demonstrate the importance of in-depth research about the financial nodes that interplay with and shape the post-crisis urban condition in and beyond Southern Europe.
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Makszin, Kristin, and Dorothee Bohle. "Housing as a Fertility Trap: The Inability of States, Markets, or Families to Provide Adequate Housing in East Central Europe." East European Politics and Societies: and Cultures 34, no. 4 (May 12, 2020): 937–61. http://dx.doi.org/10.1177/0888325419897748.
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This article belongs to the special cluster, “Politics and Current Demographic Challenges in Central and Eastern Europe,” guest-edited by Tsveta Petrova and Tomasz Inglot. We explore housing finance and policy in East Central Europe to understand the connection between housing, in particular independent household formation, and the demographic crisis. The combination of high debt-free homeownership rates with illiquid housing finance and limited rental markets produces conditions where housing restricts independent household formation and likely has a restrictive effect on fertility. We first assess the housing regime type in East Central Europe and demonstrate that it closely corresponds to the “difficult housing regime” in Southern Europe, which has well-established negative effects on independent household formation and fertility. Then we present a detailed case study of Hungary, which is a country with very low fertility rates and substantial changes in housing finance and policy over time. In particular, the issue was recently politicized through housing policies centered on household formation to counter the demographic crisis. We present a detailed analysis of policies related to access to housing for young adults through increased access to markets or state housing support schemes. These policies attempted to reduce dependence on families, but after the crisis, we find that these policies reinforce, rather than challenge, dependence on families for housing solutions, thereby limiting independent household formation. While these policies may serve a rhetorical role demonstrating a state response to the demographic crisis, we claim that their impact on fertility can be at most minimal because of stringent restrictions in access that concentrates on upper-middle-income households and limited financial commitment.
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Balios, Dimitris, Nikolaos Eriotis, Stefanos Tantos, and Dimitrios Vasiliou. "Effective Corporate Income Tax Rates: Southern and Northern Economies of the European Union." International Journal of Accounting and Financial Reporting 10, no. 1 (January 6, 2020): 117. http://dx.doi.org/10.5296/ijafr.v10i1.16273.
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In the present study, we attempt to investigate the determinants of the effective corporate tax rate of companies of the European Union (EU) discriminating between northern and southern economies. We adopt in our analysis the period after the outbreak of the crisis in the Eurozone up today including some years before 2009 in the assessed period. Our empirical investigation is based on three alternative approaches to effective income tax rate based on accounting information. We investigate the determinants of ECITR assessing two sub-samples of firms from all the aforementioned industrial sectors for 16 member countries of Europe. The first sub-sample consists of firms from 12 member countries of "North" European Union and the second sub-sample consists of firms from 4 member countries of "South" European Union. The analysis covers the period 2004-2016. Estimation results point out that the effective corporate income tax rate is variously affected by firm-specific determining factors for both northern and southern economies. The relation between ECITR and determining factors is ascertained to be less significant (sensitive) during the pre-crisis period in comparison with the respective empirical findings after the outburst of the economic crisis in the European Union. Empirical findings indicate that effective corporate income tax rate is more vulnerable to financial leverage for southern economies in comparison to the northern economies signaling financing structure differences between the two EU-country groups. Finally, there is evidence that there is an indisputable and positive coexistence between business profitability and tax burden.
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Groutsis, Dimitria, Joana Vassilopoulou, Olivia Kyriakidou, and Mustafa F. Özbilgin. "The ‘New’ Migration for Work Phenomenon: The Pursuit of Emancipation and Recognition in the Context of Work." Work, Employment and Society 34, no. 5 (October 18, 2019): 864–82. http://dx.doi.org/10.1177/0950017019872651.
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This article examines the ‘new’ migration for work phenomenon gripping Southern Europe since the Global Financial Crisis struck in 2008, by focusing on the case of skilled Greeks migrating to Germany for work purposes. In applying Honneth’s concept of emancipation to the domain of work, the article frames emancipation as a phenomenon which emerges from an individual’s search for meaningful work and as a form of resistance to deteriorating institutions and social injustice. Informed by this is an assessment of the new migration for work phenomenon from Greece to Germany by employing survey data on the perceptions of skilled emigrants. Following analysis of the findings, it is concluded that migration is a form of emancipation that allows individuals to regain recognition and self-respect while also to protest the erosion of social and human rights in their home country.
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Kalinowska, Katarzyna. "Overcoming the consequences of financial crisis on the example of Island and Ireland." Central European Review of Economics & Finance 33, no. 2 (August 31, 2021): 55–66. http://dx.doi.org/10.24136/ceref.2021.007.
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Will Ireland share the fate of Iceland? Is this open, small economy with a debt-to-GDP ratio of above 130% on the verge of bankruptcy? Economists argue that if public debt is greater than national income, then smaller economies, heavily involved in the international division of labor are at risk of becoming insolvent. The bankruptcy of Ireland, whose prosperity is based on its reputation for being a good place to do business, could be a catastrophy. Contrary to the countries of southern Europe, the economy of the Green Island has never had problems with paying its liabilities and with solvency. While Greece has gone bankrupt five times since gaining independence in 1826 and Spain as many as thirteen in the past two centuries, Ireland's history in this area is impeccable (Reinhard, Rogoff, 2009, p. 3-6). Since the beginning of the 21st century Ireland's economic development has been based mainly on construction industry and not exports, as it used to be in the 1990s when the country was nicknamed the Celtic Tiger. The boom resulted in a budget surplus and a positive balance in current settlements. But it also resulted in higher prices - the Irish no longer had to accept slow wage growth to stay internationally competitive - which, combined with the low nominal interest rate of the European Central Bank, provided fertile ground for the build-up of the real estate bubble. The aim of the article is to identify the factors that led Ireland to the brink of bankruptcy and to try to answer the question whether the action of recapitalization of failing banks by the government and international financial institutions will bring the expected results in the form of healing the financial system and returning Green Island to the path of economic growth.
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Sánchez Fuentes, Antonio Jesús, Teresa López López, and Viviana González Hincapié. "Determinants of Intergenerational Family Solidarity during the Great Recession: the Spanish Case." Research on Ageing and Social Policy 7, no. 2 (July 31, 2019): 401. http://dx.doi.org/10.17583/rasp.2019.4117.
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In the context of an economic crisis that has affected countries in Southern Europe especially and that has called into question the public pillar of the intergenerational contract, i.e. pensions, literature has shown an increasing interest in analyzing the other intergenerational pillar, which is largely based on family solidarity and which has been insufficiently explored for the Spanish case. Therefore, based on official data provided by the Time Use Survey (TUS) and the Household Budget Survey (HBS), an effort has been made to identify, through multivariate models, the individual factors that determined certain expressions of family solidarity and their participation and intensity of time and money transfers among family members in one of the most critical moments of this crisis in Spain (2009/2010). The results question the idea that the unemployed and the retired have been net recipients during the crisis, revealing that it is insufficient to consider only a single manifestation of solidarity, the financial one, when accounting for the wide range of support and transfers that circulate among family members.
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Dicuonzo, Grazia, Antonio Fusco, and Vittorio Dell’Atti. "Financial Risk Disclosure: Evidence From Albanian And Italian Companies." KnE Social Sciences 1, no. 2 (March 19, 2017): 182. http://dx.doi.org/10.18502/kss.v1i2.656.
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<p>In recent years standard setters, regulators and professional bodies worldwide have shown an increased interest in risk reporting. This has reflected the fallacy of the financial reporting model to communicate a company’s risk profile, the recent scandals and the financial crisis. The European Union, the International Accounting Standards Board (IASB) and other national standard settershave introduced specific requirements in order to impose companies to highlight the principal financial risks and uncertainties that they face.The idea is that high-quality risk disclosure help investors and other market participants in their decision-making process, by providing a better understanding of the risk exposures and risk management practices of companies.</p><p>Previous studies show large heterogeneity in risk reporting within individual countries and identify size as key determinant of risk disclosure. A few researches propose a cross-country investigation of risk reporting and to date there is a lack of evidence about companies operating in Southern Europe, especiallyin the Balkans.</p><p class="AbstractText">The aim of this study is twofold. First, we fill this gap by analyzingrisk reporting regulations in Albania and in Italy to examine the different requirements. Second, we examine risk information disclosed by a sample of 12 Albanian companies and 12 Italian companies within their annual reports, using content analysis. Due to small sample size we offer preliminary findings about financial risk disclosure. The results show that on average Albanian companies disclose less information on financial riskthan Italian companies. Different explanations can be given for this evidence: i) risk disclosure regulationis less incisive in Albania, because it is limited to inform investors about the relevance of financial instruments and the terms and conditions of loans; ii) Albanian companies have fewer incentives to disclose risk information than Italian companies.</p>
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Harsányi, Iván. "Crisis de sistema(s) y transiciones del fin del siglo XX en las áreas semiperiféricas del mundo." Acta Hispanica 21 (January 1, 2016): 61–72. http://dx.doi.org/10.14232/actahisp.2016.21.61-72.
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The nature of the transitions in these regions of the world (Southern Europe, Central Eastern Europe and Latin America) reflects their historical antecedents, the particularities of the period when they occured, and the current balance of the respective international forces. The distinctive feature of the Central-Eastern European transitions is that these changes were not limited to the transformations of their respective political regimes, but affected their entire socioeconomic structure, this is why they served as origins of tensions that lasted for various decades. In each of these countries, different types of dictatorial or authoritarian regimes were established in the first half of the 20th century, and played a different role in World War II. With the exception of Yugoslavia, they all took part in the military and economic organizations of the Eastern block (the Warsaw Pact, COMECON), within the context of the bipolar system of powers. Due to their semiperipheral character, most of them had limited opportunities to catch up with the more developed countries even after the transition, and their steps taken in this direction were hesitants. The comparison between their respective transitions is further complicated by their different political-cultural traditions and by the consequences of the globalization of societies, due to the effects of the serious global economic and financial crisis that unfolded in 2008 and is still present nowadays.
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Alonso-Almeida, María del Mar, Josep Llach, Jose Daniel Barquero, and Kerstin Bremser. "Workforce and destination influence over hospitality industry performance." EuroMed Journal of Business 11, no. 3 (September 5, 2016): 395–409. http://dx.doi.org/10.1108/emjb-04-2016-0014.
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Purpose As part of the recent global financial crisis, Europe has experienced a double crisis (financial crisis and Euro crisis) leading to a double dip recession, meaning that the effects of the crisis have been longer and more severe. Tourism, specifically the hospitality industry, is important for the economy of Southern European countries, where the crisis has been the worst. Spain especially depends on tourism as important source of GDP. Therefore, the purpose of this paper is to identify the contributing factors to better manage the crisis impacts and anticipate future impacts. Design/methodology/approach The authors examine the performance of a sample of 7,293 Spanish hospitality companies based on data from 2008 to 2011. With the aim of testing the hypotheses, a multivariate regression analysis was performed. Findings Results show the importance of a direct effect over both internal (workforce as well as hotel characteristics) and external factors (destination-related GDP spending) for growth, with varying influence across factors. Nevertheless, the most influenced are the moderated effects among the workforce and external variables. Research limitations/implications This study contributes to the literature by providing a firm-level analysis (rather than an industry-level analysis) and offers an almost complete picture of a specific geographical area. Future research should address the performance of other tourism industries in times of crisis, such as restaurants and travel agencies, and the relationships between performances in different tourism industries. Regarding the limitations of the paper, the main limitation is associated with the use of panel data from an official database. These include problems in the design, data collection and data management of panel surveys. Practical implications These findings help the hospitality industry to understand the relevant drivers and coping strategies associated with the hospitality industry during a financial crisis. Originality/value This study is focused on the firm-level analysis instead of an industry-level analysis and can thus give advice to the strategic behaviour of companies.
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Kolimenakis, Antonios, Dionysios Latinopoulos, Kostas Bithas, Clive Richardson, Konstantinos Lagouvardos, Angeliki Stefopoulou, Dimitrios Papachristos, and Antonios Michaelakis. "Exploring Public Preferences, Priorities, and Policy Perspectives for Controlling Invasive Mosquito Species in Greece." Tropical Medicine and Infectious Disease 4, no. 2 (May 18, 2019): 83. http://dx.doi.org/10.3390/tropicalmed4020083.
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Climate change, urbanization, and financial crisis have created a dramatic mixture of challenges in Southern Europe, increasing further the risks of transmission of new vector-borne diseases. In the last decade, there has been a wide spread of an invasive mosquito species Aedes albopictus, commonly known as the Asian tiger mosquito, in various urban ecosystems of Greece accompanied by greater risks of infectious diseases, higher nuisance levels, and increased expenses incurred for their control. The aim of the present paper is to investigate citizens’ perception of the Aedes albopictus problem and to evaluate various policy aspects related to its control. Findings are based on the conduct of a web-based survey at a national scale and the production of national surveillance maps. Results indicate that citizens are highly concerned with the health risks associated with the new mosquito species and consider public prevention strategies highly important for the confrontation of the problem while, at the same time, surveillance maps indicate a constant intensification of the problem. The spatial patterns of these results are further investigated aiming to define areas (regions) with different: (a) Levels of risk and/or (b) policy priorities. It appears that citizens are aware of the invasive mosquito problem and appear prone to act against possible consequences. Climate change and the complex socio-ecological context of South Europe are expected to favor a deterioration of the problem and an increasing risk of the transmission of new diseases, posing, in this respect, new challenges for policy makers and citizens.
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Moyo, Clement, and Pierre Le Roux. "Financial liberalisation, financial development and financial crises in SADC countries." Journal of Financial Economic Policy 12, no. 4 (April 17, 2020): 477–94. http://dx.doi.org/10.1108/jfep-07-2018-0102.
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Purpose The impact of financial reforms and financial development on an economy has received considerable attention over the recent past. This paper aims to investigate whether financial liberalisation and financial development increase the likelihood financial crises in Southern African development community (SADC) countries. Design/methodology/approach Due to the binary nature of the dependent variable, the logit model is used for the analysis using data for the period 1990 to 2015. Findings The results showed that financial liberalisation captured by real interest rates reduces the likelihood of financial crises. Furthermore, regulatory quality strengthens this reductive effect of financial liberalisation on the probability of financial crises. On the other hand, financial development represented by bank credit increases the incidence of financial crises. The results also suggest that financial liberalisation may increase the likelihood of financial crises indirectly through financial development. Research limitations/implications The study recommends that a sound regulatory and supervisory framework be established as well as institutional quality raised to curb the effect of financial development on the incidence of financial crises. Originality/value There is scant evidence on the role that financial liberalisation and financial development play in the incidence of financial crises in the SADC. This study incorporates the effect of institutional quality in the analysis which has been neglected by most studies on financial reforms in SADC countries. A number of recent studies in SADC countries conclude that financial development resulting from financial reforms, may hinder economic growth. Therefore, this study sheds light on this negative relationship.
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Terraneo, Marco. "Households’ financial vulnerability in Southern Europe." Journal of Economic Studies 45, no. 3 (August 13, 2018): 521–42. http://dx.doi.org/10.1108/jes-08-2016-0162.
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Purpose The purpose of this paper is to analyze whether and to what extent households living in southern Europe, i.e. Greece, Portugal, Spain and Italy, experience similar conditions of financial vulnerability, considering that in comparative research these countries are often grouped together because of the substantial instability of their economies and the similarity of social and welfare model. Design/methodology/approach The authors use data from Household Finance and Consumption Survey, a quite novel data set that covers the whole balance sheet of a sample of households. The authors compute four indicators of debt burden and in order to study households’ risk of default the authors apply two-part model, which is a valuable alternative to the application of conventional regression models with zero-inflated data. Findings Analysis reveals that the burden of debts and the risk of default are very different among the four countries, in particular Spain and Portugal have the highest proportion of financially vulnerable households. Originality/value The study is one a few that have directly compared objectives indicators of households’ financial vulnerability in all Southern European countries. Moreover, the authors employ a two-part model, a valuable alternative to the application of conventional logit or linear regression models. In the first part of the model the authors estimate the probability that households suffer financial vulnerability; in the second part, the authors estimate households’ level of vulnerability only for vulnerable families.
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Schnabel, Isabel, and Christian Seckinger. "Foreign banks, financial crises and economic growth in Europe." Journal of International Money and Finance 95 (July 2019): 70–94. http://dx.doi.org/10.1016/j.jimonfin.2019.02.004.
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Valdivia, Pablo. "Narrating crises and populism in Southern Europe: Regimes of metaphor." Journal of European Studies 49, no. 3-4 (October 1, 2019): 282–301. http://dx.doi.org/10.1177/0047244119865083.
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The aim of this article is to propose an exploratory critical response to the two following main research questions: (1) why, in moments of crises, particular metaphors operate in the construction of interrelated cultural narratives; and (2) in which ways metaphors generate alternative intellectual horizons for social renewal under the rise of populism in the Southern European context. A metaphor is not only a linguistic device but also a cognitive operation that configures and shapes the pre-figurative poetic acts which articulate our worldviews. It is my working hypothesis that by studying the metaphorical systematicity produced within certain imagined communities, it is possible to ground the conceptual system that informs cultural and political practices such as populist movements, while also tracing novel metaphors that can activate renewal and produce structural change in our societies. In this essay, I propose to critically define such conceptual systems as ‘regimes of metaphor’.
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Morgan, Peter J., and Yan Zhang. "Mortgage lending, banking crises, and financial stability in Asia and Europe." Asia Europe Journal 15, no. 4 (October 25, 2017): 463–82. http://dx.doi.org/10.1007/s10308-017-0489-y.
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Danko, Jakub, and Erik Suchý. "The Financial Integration in the European Capital Market Using a Clustering Approach on Financial Data." Economies 9, no. 2 (June 7, 2021): 89. http://dx.doi.org/10.3390/economies9020089.
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In 2009, when the effects of the economic crisis were fully felt, countries around the world experienced negative impacts, starting from the USA, where the crisis began, through Europe to Asia. Economic cycles, fluctuations, and crises are a common part of the financial market, for example, the crisis in 1929 and the crisis in 2000. The recovery of the economy is a key factor in this process. Due to the increasingly powerful process of globalization and the growth of the interconnectedness of individual economies to each other, not to mention an increasing pressure on the formation of integration clusters, the creation and emergence of new financial crises with supranational and transnational character are highly likely in the future. It is possible that a one-day crisis reaches and expands with global reach, but it is important for us to be prepared through effective tools. In this article, we will be dealing with financial indicators within the European Union that define and create the capital market. Based on cluster analysis, we create groups of countries that are similar to each other. We determine which countries are the leaders and which, on the contrary, lag behind the rest of Europe.
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Marer, P. "The global economic crises: Impacts on Eastern Europe." Acta Oeconomica 60, no. 1 (March 1, 2010): 3–33. http://dx.doi.org/10.1556/aoecon.60.2010.1.2.
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The global crisis of 2007–2009 can be viewed as three interdependent and mutually reinforcing crises: a financial crisis, a liquidity crisis, and a crisis in the real economy. The ten East European countries that are now EU members were hit first by the global liquidity crisis, then by dramatic declines in capital inflows and plunging demand for their exports. Different impacts among the ten are explained by such factors as their exchange rate regimes, the extent to which households found it advantageous to rely on foreign-currency loans and the appropriateness of fiscal and monetary policies prior to the crisis. Since Western Europe’s recovery and growth are likely to be slow, in the future East European countries will have to rely relatively more on internally-generated sources of productivity growth and enhanced global competitiveness.
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Tybout, James. "A firm-level chronicle of financial crises in the Southern Cone." Journal of Development Economics 24, no. 2 (December 1986): 371–400. http://dx.doi.org/10.1016/0304-3878(86)90098-2.
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Boone, Peter, and Simon Johnson. "Forty Years of Leverage: What Have We Learned About Sovereign Debt?" American Economic Review 104, no. 5 (May 1, 2014): 266–71. http://dx.doi.org/10.1257/aer.104.5.266.
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Financial crises frequently increase public sector borrowing and threaten some form of sovereign debt crisis. Until recently, high income countries were thought to have become less vulnerable to severe banking crises that have lasting negative effects on growth. Since 2007, crises and attempted reforms in the United States and Europe indicate that advanced countries remain acutely vulnerable. Best practice from developing country experience suggests that regulatory constraints on the financial sector should be strengthened, but this is hard to do in countries where finance has a great deal of political power and cultural prestige, and where leverage is already high.
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Kozub-Idźkowska, Monika, and Marek Proniewski. "Financial Crisis in Central and Eastern Europe – Development Differentiation in the Regions." Equilibrium 6, no. 1 (March 31, 2011): 85–107. http://dx.doi.org/10.12775/equil2011.005.
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Crises existed not only in the last decades. In each country fluctuations such as upswings or downturns can be observed in the economy. The serious economic crisis can take place when the extending long-lasting decline continues. In the situation when the crisis appears in the economy it is significant to have a stable financial system. The last financial crisis showed weakness of the contemporary model of social-economic development functioning in the global world, also in Central and Eastern Europe (CEE). The paper presents the situation of Central and Eastern Europe during the financial crisis. The goal is to analyze the most important kinds of macroeconomic indicators of CEE countries, present development differentiation in the regions at NUTS2 level and systematize causes of the crisis and anti-crisis activities in Central and Eastern Europe. In this paper theoretical aspects of the financial crisis and financial crises’ types are shown as a basis for further analysis. The theoretical study, the observation method and the statistical data analysis were used to present the global financial crisis influence on the CEE economy. Finally, the method of coefficient of variation was implemented to confirm regional development differentiation in Central and Eastern Europe regions and to answer the question if the CEE regions can still narrow the development gap between them and other regions of the European Union.
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Critz, José Morilla, Alan L. Olmstead, and Paul W. Rhode. "“Horn of Plenty”: The Globalization of Mediterranean Horticulture and the Economic Development of Southern Europe, 1880–1930." Journal of Economic History 59, no. 2 (June 1999): 316–52. http://dx.doi.org/10.1017/s0022050700022853.
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During the late nineteenth century, competition from cheap American grains undermined agricultural economies across Europe. This article investigates how similar forces of globalization in the production of Mediterranean fruits and nuts dampened economic prospects across southern Europe and in some cases contributed to outright economic and political crises.
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Cobham, David. "Economic integration and financial liberalization: prospects for Southern Europe." International Affairs 69, no. 2 (April 1993): 366–67. http://dx.doi.org/10.2307/2621648.
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Bonin, John P., and Dana Louie. "Did foreign banks stay committed to emerging Europe during recent financial crises?" Journal of Comparative Economics 45, no. 4 (December 2017): 793–808. http://dx.doi.org/10.1016/j.jce.2016.08.003.
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Lazarides, Themistokles, and Electra Pitoska. "The European banking system before and after the crises." Corporate Ownership and Control 11, no. 3 (2014): 358–68. http://dx.doi.org/10.22495/cocv11i3conf1p5.
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The European banking system is not isomorphic. The differences can be traced to the differences in their local economy development, legal origin, ownership status, corporate governance system, etc. The 2008 crisis has found the banking system of Europe in a transition status. The adoption of Euro, the establishment of the European Central Bank, the Basil III initiative, the adoption of legal isomorphism as policy in E.U., and finally the crises have been creating a unique environment for the banking system. The paper will address the issue of convergence of the banking system in Europe using a set of data from 27 countries of Europe. The analysis shows that the banks haven’t changed their financial and ownership structure. Some changes in strategy are not adequate to formulate the opinion that the banking sector in Europe is different than the one before it.