Abstract
The book leans on the existing literature and the relevant international experience to assess the challenges arising from the sharp increase of non-performing loans in several euro area periphery economies in the aftermath of the recent global financial upheaval. With debt levels already significantly higher than in the pre-crisis period, it is increasingly acknowledged that authorities must deal with the problem in a more resolute manner so as to create the conditions for a sustained recovery. This is especially true in view of the lessons learned from past crisis episodes and the fact that the empirical literature identifies a number of channels linking private sector over-indebtedness with both economic activity and financial system stability.
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Monokroussos, P., Gortsos, C. (2017). Introduction. In: Monokroussos, P., Gortsos, C. (eds) Non-Performing Loans and Resolving Private Sector Insolvency. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-50313-4_1
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DOI: https://doi.org/10.1007/978-3-319-50313-4_1
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