A Study On The Role of Euro Central Bank in Monetary Policy
Date Issued
2015
Date
2015
Author(s)
Shih, Chih-Ching
Abstract
The financial crisis of 2008 hit the global economy and finance heavily. As a result, most of the world’s countries have adopted monetary policies and stimulus expanding measures in an effort to boost the economy. However, massive national fiscal deficits and soaring public debt contributed to the 2010 European sovereign-debt crisis which caused severe financial market shocks and turmoil, Euro currency depreciation, and a worldwide slowdown of the economy. Social, economic and systemic problems of southern European states triggered the Eurozone debt crisis. The Bank lending in the euro area contracted sharply following the Euro debt crisis, and it’s erupted in the wake of the Great Recession in Euro Economic. In order to avoid contagion triggered by the debt crisis, the European Union, International Monetary Fund and the European Central Bank launched a series of emergency bailout measures. For long-term stable economic growth the crisis-affected countries have been tasked to carry out socio-economic structural reforms and fiscal consolidation to fire up national competitiveness and maintain financial sustainability. This thesis examines the role of euro central bank in monetary policy under the period from 2008 to now on, and use the data to prove the asset purchase programme,which announced on January 2015 is in order to rebuild the European banking system rather than Aimed at fulfilling the price stability mandate. and give some suggestions for reform, are also covered.
Subjects
European Sovereign Debt Crisis
European debt crisis
Banking Crisis
Currency Crisis
Financial Crisis
SDGs
Type
thesis