Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies Roubini Nouriel
Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies Roubini Nouriel Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary…
Specifikacia Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies Roubini Nouriel
Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies Roubini Nouriel
Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed.This book looks at these situations and the options available to alleviate the problem. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens.
It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that