Lessons Learned from the 2013 Banking Crisis in Cyprus

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F13%3A%230002295" target="_blank" >RIV/47813059:19520/13:#0002295 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Lessons Learned from the 2013 Banking Crisis in Cyprus
Original language description
The Cypriot banking crisis in 2013 led to closing commercial banks, capital controls and economic as well as political instability. The Troika have agreed with the Cypriot government on a plan that should resolve the problems in banking sector and stabilize the economic and financial environment. This paper overviews the specifics of the Cypriot banking system and puts them into relation with the crisis. The rescue program and its individual components are examined and adequacy of the bail-in approach is discussed. The paper concludes that Cyprus suffers from the status of being too small to be equal while having banking sector too big to save. Moreover, the way of bank resolution approved for Cyprus could be a wrong example how banking crises in the euro area should be sorted out in future as the bail-in approach increases systemic risk. The appropriate strategic solution for the euro area would be a proper banking union with common supervision, deposit insurance scheme and bank resol
Czech name
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Czech description
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Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Financial Systems 2013. Proceedings of the 10th International Conference
ISBN
978-80-210-6294-8
ISSN
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e-ISSN
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Number of pages
8
Pages from-to
312-319
Publisher name
Masarykova univerzita
Place of publication
Brno
Event location
Telč
Event date
Jun 10, 2013
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000324654400046

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