The European Debt Crisis

This book explores Portugal's response to the 2008 economic crisis and how the country regained the trust of the global capital markets through investor support. The experiences and successes of Portugal are compared with the other Eurozone countries, in particular Greece which had to negotiate a series of assistance programs, to highlight the strategies which helped lessen the impact of the debt crisis.

This book aims to provide insight into the global investor ecosystem and to how financial globalization works in practice, illustrating how the multinational investor universe, the financial media, rating agencies, and how investment banks interact. It will be relevant to students and researchers interested in financial markets and political economy, and also financial market practicioners and policy makers.

Contains inside experience from a leading figure in the Portuguese debt management during the crisis Illustrates how international financial markets work on a day to day basis Facilitates an understanding of the interplay of between different actors within international financial markets

Autorentext

João Moreira Rato is a visiting professor at NOVA University Lisbon IMS and a research associate at the Systemic Risk Centre at the LSE. He was previously CEO and Chairman of the Portuguese Debt Management Office and Treasury and has acted as an advisor for sovereigns in the Middle East.

Klappentext

This book explores Portugal s response to the 2008 economic crisis and how the country regained the trust of the global capital markets through investor support. The experiences and successes of Portugal are compared with the other Eurozone countries, in particular Greece which had to negotiate a series of assistance programs, to highlight the strategies which helped lessen the impact of the debt crisis. This book aims to provide insight into the global investor ecosystem and to how financial globalization works in practice, illustrating how the multinational investor universe, the financial media, rating agencies, and how investment banks interact. It will be relevant to students and researchers interested in financial markets and political economy, and also financial market practicioners and policy makers.

Inhalt

1. The background.- 2. Roadmap, preparations.- 3. Investors.- 4. Managing the different ecosystems: the international press, the rating agencies and the domestic public opinion.- 5. Restarting the engines: first issuance.- 6. The road to normalization had its ups and downs. 7. The final push.- 8. Success: Investors support allowed Portugal to avoid a second Troika programme.<p