Goldberg, Linda, Kambhu, John, Mahoney, James M., Radecki, Lawrence, and Sarkar, Asani
Subjects
SECURITIES, CLEARING of securities, STOCK exchanges
Abstract
Discusses issues on securities trading and settlement in Europe. Restructuring of European stock exchanges and settlement systems; Principal steps in a securities transaction; Relative cost savings from clearing and settlement system consolidation; Factors driving structural change in Europe. INSET: Trade Execution, Clearing, and Settlement.
EUROPEAN Sovereign Debt Crisis, 2009-2018, BALANCE of payments, CAPITAL movements, FINANCIAL crises, GLOBAL Financial Crisis, 2008-2009, CONSUMPTION (Economics)
Abstract
The article discusses the sovereign debt crisis in the European countries to finance increased consumption and housing investment. The Target2 system which offsets much of the capital flight with credits extended collectively by euro area central banks to central banks in the periphery is stated. The risk of a country's dependence on borrowed money as its imports exceed its exports is cited. A graph depicting the Periphery Current Account Balances is presened.
Focuses on efforts to establish consolidated stock exchanges in Europe. Advantages of consolidation; Comparison between the consolidation of stock exchanges in Europe and in the U.S.; Barriers to consolidation.
Published
2002
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