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debt crisis

The Influence of Greece's Debt Crisis on the Banking Sector

Sergio Schmukler's picture

The crisis in Greece and the Eurozone has escalated as depositors flee banks in fear not only of the consequences of sovereign default but also of Greece abandoning the Euro. Unfortunately, this development makes the crisis much deeper and more difficult to manage. As we (along with Eduardo Levy Yeyati) highlighted in a VoxEU piece in June 2011, the main risk of the Greek debt crisis was its potential spillover to the banking sector.

Viewpoint on a rising dragon

Justin Yifu Lin's picture

As a counterpoint to grim forecasts coming out of Europe, I am hopeful that we can anticipate an Asian century where China will grow dynamically for another 20 years. Yet there are caveats to this optimistic scenario: Success in China will require a process of continual transformation and the wherewithal to tackle what I describe as a triple imbalance at the national level. I expound on this and other points in a BBC viewpoint piece published on November 23.