Crisis Management in the European Union

In CEPR Policy Insight No 27, Sylvester Eijffinger discusses the management of the financial crisis in the EU. The paper describes the development of the crisis with the denial phase, the discovery phase and the disposal phase of the crisis. It also analyzes the nationalisation of banks and the three conditions that need to be fulfilled to make a bailout as unattractive as possible.

VoxEU.org is a policy portal set up by the Centre for Economic Policy Research in conjunction with a consortium of national sites, including the Italian site LaVoce, the French site Telos and the Spanish site Sociedad Abierta. Vox aims to promote research-based policy analysis and commentary by leading scholars. The intended audience is economists in governments, international organisations, academia and the private sector as well as journalists specializing in economics, finance and business.