This theoretical model analyzes the impact of interbank credit market dynamics on the resilience of the financial system. Based on a stochastic model of interbank market credit flows, lending in the interbank market is restricted by the availability of liquidity. Following a shock...

The paper deals with the necessity to implement sub-regional specific solutions in order to achieve the economic recovery. EU2 countries (Bulgaria and Romania) have the same political and economic past, present and future and the same challenges to face. This is why both countries are analysed...

The economic and financial crisis has generated a significant amount of adverse effects in all European economies, although with substantial differences by countries. For Spain the effects have been severe. From the last third of the last century until the middle of 2008 the economy experienced...

The global economic crisis of 2008 has affected all European countries; Greece of course could not be the exception to this "rule". First, the fact that Greece was unable to mitigate its public expenditures and to increase its revenues in comparison with the other European countries and other...