Lessons Learned from the 2013 Banking Crisis in Cyprus

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Lessons Learned from the 2013 Banking Crisis in Cyprus

Popis výsledku v původním jazyce

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

Název v anglickém jazyce

Lessons Learned from the 2013 Banking Crisis in Cyprus

Popis výsledku anglicky

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

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2013

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

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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Počet stran výsledku

8

Strana od-do

312-319

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Telč

Datum konání akce

10. 6. 2013

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000324654400046