Banking union: Ireland vs Nevada, an illustration of the importance of an integrated banking system

Daniel Gros, 27 November 2012

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The Eurozone crisis has demonstrated how an insolvent sovereign can destroy a national banking system, Greece, but also how an insolvent banking system can almost sink the sovereign – Ireland and Spain (Wyplosz 2012).

Topics: EU institutions, EU policies
Tags: banking union, ECB, fiscal union, Ireland, Nevada

Club Med and the Sun Belt: Lessons from adjustment within a monetary union

Uri Dadush, Zaahira Wyne, Shimelse Ali, 24 July 2012

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The experiences of a few US states in weathering the ongoing economic turmoil could provide some insight into the Eurozone’s struggles. In particular, Florida, Arizona, and Nevada along the US Sun Belt saw a big housing bubble and subsequent bust, much like Greece, Ireland, and Spain along Europe’s periphery, a group we call ‘Club Med’.

Topics: Europe's nations and regions, Global economy, Labour markets, Monetary policy
Tags: Arizona, Eurozone crisis, Florida, Greece, housing bubble, Ireland, monetary union, Nevada, Spain

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