Beschreibung:
The past decade has dramatically shaped the European economic landscape. After the global financial and economic crisis of 2008/09 hit the continent, the southern European periphery exemplified by Greece experienced a strongly diverging economic development. As capital inflows from the North dried up, the highly indebted southern euro countries running large current account deficits provoked fears of contagious sovereign defaults. The EU responded to the subsequently escalating ‘euro crisis’ with a series of institutional adjustments including the hitherto unwanted bail-out opportunities fo...