Bailouts and Bail-Ins

Abstract

In the previous chapter, we have examined both the immediate and underlying causes of the crisis. Here we are looking at the final stages of the crisis itself, culminating in the ‘bail-in’ rescue package of March/April 2013. This new and previously untested approach was, it will be argued, the EU-IMF’s latest weapon in its austerity armoury for dealing with financially wayward members of the eurozone.