A Diary of the Euro Crisis in Cyprus

Lessons for Bank Recovery and Resolution

Panicos Demetriades (Autor)

Buch | Hardcover

XVIII, 215 Seiten

2017 | 1st ed. 2017
Springer International Publishing (Verlag)
978-3-319-62222-4 (ISBN)

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lt;p>This book tells the story of the euro crisis in Cyprus from the inside. Written by the former Governor of the Central Bank of Cyprus, Panicos Demetriades, who was in office during this turbulent period, this book shows how the crisis unravelled through a series of key events that occurred during his tenure.

Written in chronological order, and broadly based on the author's personal diary, starting from his first day in office, this volume brings together economics, banking, regulation, governance, history, politics and international relations.

Presenting personal witness statements, including records of noteworthy telephone conversations, informal meetings and other milestones, it examines crucial questions like: How did Cyprus become so systemically important to the rest of the euro area? Why was Cyprus treated so differently in comparison to other peripheral countries in Europe? Why were bank depositors targeted? What role did Cyprus' links with Russia play in the design of the programme? What has been the toxic fallout from the bail-in? Are there any longer-term implications for the euro? What are the lessons for regulators around the world?

The book will appeal to readers interested in financial crises, the euro's architecture, the evolution of the European Monetary Union, and those with an interest in how Europe and the IMF dealt with crises in peripheral European countries.

Panicos Demetriades served as Governor of the Central Bank of Cyprus and was a member of the Governing Council of the European Central Bank from May 2012 until 2014 after stepping down from the governorship in Cyprus on 10th April 2014, a move that the Economist described as ‘a blow to central bank independence’. Professor Demetriades returned to his position Professor of Financial Economics at the University of Leicester, UK, on 1st May 2014. He continues to speak extensively around the world on his experience as Governor of the Central Bank of Cyprus during the country’s worst financial crisis. He holds a PhD in Economics from the University of Cambridge, UK, and BA and MA degrees, also in Economics, from the University of Essex, UK. His academic career spans a period of 25 years, the last twelve of which have been with the University of Leicester. He has published over 100 academic papers and chapters in books, primarily in the area of finance and growth. According to RepEc he is among the top 2% economics authors in the world. He has also published articles for VOX-EU, The Conversation, The Financial Times and other ‘popular’ media. He is frequently a guest on TV and radio programmes in relation to the euro crisis; in 2015 alone he was interviewed on several occasions by BBC News, CNBC, France 24, Radio Sputnik and Sky News. Some of his other recent interviews include Al-Jazeera TV, Bloomberg, CartaMaior (Brazil), CNN, El-Mundo (Argentina), National Public Radio (United States), Reuters (reprinted in Daily Mail), Russia 24 News and South Africa Radio. Professor Demetriades is a Fellow of the Academy of Social Sciences (FAcSS).

lt;p>1. Baptism of fire

2. Entering a war zone

3. A secret lunch

4. Buying time

5. "Two" big to fail

6. Too big to save?

7. A Russian playground

8. A bank run and a tearf

ul agreement

9. The euro at breaking point

10. Illusions

11. Taxing the poor (to protect the rich)

12. Heading towards the abyss

13. "Take it or leave it"

14. Resolution and capital controls

15. Toxic fallout

16. The final act

17. The key ingredie

nts of the crisis

18. Lessons for Europe and beyond

Erscheinungsdatum	10.11.2017
Zusatzinfo	XVIII, 215 p. 15 illus.
Verlagsort	Cham
Sprache	englisch
Maße	155 x 235 mm
Gewicht	478 g
Themenwelt	Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte
	Wirtschaft ► Allgemeines / Lexika
	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
Schlagworte	Bailout • Bank Deposits • Banking • Bank of Cyprus • ECB • Economic & financial crises & disasters • Economic & financial crises & disasters • Economics and finance • european central bank • European financial architecture • eurozone crisis • Finance • Financial Crises • Financial Crisis • Greece • History: specific events & topics • History: specific events & topics • Russia
ISBN-10	3-319-62222-6 / 3319622226
ISBN-13	978-3-319-62222-4 / 9783319622224
Zustand	Neuware