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Možnosti řešení dluhové krize ve státech skupiny PIIGS
Skryjová, Kateřina
This bachelor thesis analyzes the current debt crisis in countries called PIIGS (Por-tugal, Italy, Ireland, Greece, Spain) and suggests possible solutions. The first part describes the development of the previous crisis and debt crisis as well. The sec-ond part focuses on PIIGS countries, analysis is made by case studies and graphs. The discussion is devoted to the recommendation of appropriate solutions for each country.
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Does the Eurozone crisis bring similar effects to the economic growth of peripheral countries of EU? A research to investigate effects of the Eurozone crisis on the economic growth of the Eurozone peripheral countries and the non-Eurozone CEE countries
Li, Peiwei ; Szobi, Pavel (advisor) ; Svoboda, Karel (referee) ; Akdogan, Idil (referee)
Peiwei Li Abstract: This paper is to investigate whether the Eurozone crisis brings similar effects to the economic growth of two groups of the EU's peripheral countries, including the PIIGS and the CEE countries. Greece, Ireland and Portugal from the PIIGS group; and the Czech Republic, Hungary and Poland from the CEE group are selected as the researched countries in this paper. In order to quantify how the Eurozone crisis affects the economic growth of these two groups of countries, this research utilises the statistical software STATA to operate a panel regression model with country and time fixed effects. The employed panel data contains selected indicators of the six researched countries over 2004-2018. Indicators that may affect economic growth of countries during the Eurozone crisis includes current account balance, FDI inflows, debt, exports and unemployment. Apart from the generation of overall results for all the six countries over 2004-2018, this paper generates a dummy variable "eurozone" to divide the researched countries into two groups. Therefore, it compares the results of each group. The research period also be equally divided into three stages: 2004-2008, 2009-2013 and 2014-2018, which represent for pre-crisis period, crisis period and post-crisis period. The divided periods are used to...
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Application of growth economic theory on Ireland comparing to southern countries of eurozone (PIIGS)
Nguyen, Phuong ; Šíma, Ondřej (advisor) ; Dvořák, Michal (referee)
The Ireland´s recovery from the crisis that broke in the Irish economy was fast comparing to other eurozone nations so-called PIIGS. Therefore, the thesis identify sources and turning points that generate the inclusive growth of the Irish economy. Economic growth comes from the accumulation of labour and capital inputs combined with improvements in the productivity of labour associated with technological progress. There are clear signals that all these factors contribute to the economy growth in Ireland. Ireland benefits from large inflows of foreign direct investment that helps to spread technological progress, know-how into the country. This has resulted in export of hi-tech goods and services. Labour force in Ireland are skilled individuals. In addition, both, labour force and labour market in Ireland are highly adaptable to change. Above mentioned drivers and others are fundamental to economic growth. Overall, Ireland´s economy is reasonably well established and it has made significant progress in many areas that contrast with southern economies in PIIGS group.
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German trade surplus within the context of the eurozone crisis
Morong, Martin ; Titze, Miroslav (advisor) ; Řežábek, Pavel (referee)
The thesis examines specific factors that influence the German trade surplus and how this surplus affected other European economies. The conclusions drawn from this thesis are that these funds are what primarily financed the current PIIGS account and amplify imbalances in the euro area which reflected in the balance of payments crisis. After Europe was swept by crisis, these capital flows suddenly ceased, causing insolvency of peripheral economies. The solution for the latter situation was an inflow of public capital, especially through the payment system TARGET2. The affected economies are currently undergoing internal devaluation while Germany continues to have a permanently high trade surplus. Attention is paid to the consequences and risks that arise from the persistent imbalance between Germany and other members of the EMU.
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Možnosti řešení dluhové krize ve státech skupiny PIIGS
Skryjová, Kateřina
This bachelor thesis analyzes the current debt crisis in countries called PIIGS (Por-tugal, Italy, Ireland, Greece, Spain) and suggests possible solutions. The first part describes the development of the previous crisis and debt crisis as well. The sec-ond part focuses on PIIGS countries, analysis is made by case studies and graphs. The discussion is devoted to the recommendation of appropriate solutions for each country.
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The causes of the European debt crisis from the perspective of the Austrian School of Economics
Pastushuk, Olha ; Pavlík, Zdeněk (advisor) ; Bolotov, Ilya (referee)
This bachelor thesis analyzes the causes of Europe's debt crisis from using theory put forward by Austrian School of Economics, as a tool. The work strives to answer the question of what caused the crisis. At the beginning, theoretical foundation of the school is defined, particularly the Austrian business cycle theory. Subsequently, an analysis of various causes of the crisis in EU was made. The important causes were examined, for example, economic conditions in selected EU countries and problems of EU institutions by the theory of the Austrian School of Economics.
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European debt crisis according to the Austrian School of Economics
Talian, Peter ; Pavlík, Zdeněk (advisor) ; Melcher, Ota (referee)
Debt crisis is at present a major problem not only in the eurozone or Europe but also in the whole world. This bachelor thesis deals with the origin of the debt crisis, explains current status and specific issues of PIIGS countries within the eurozone. Furthermore, it introduces the Austrian School of Economics, its history, main representatives and thier principles. In its third part this thesis interprets the Trade Cycle and the Credit Expansion Theory according to the Austrian School. The subject of this part of the thesis is to find the connection between the debt crisis and the theory. In the last part the thesis reflects on the possible ways the debt crisis is conducted or debated by the EU and speculates about the future of the eurozone. On the contrary to EU measures, there will be also Austrian debt crisis sollutions given.
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The impact of the debt crisis on monetary integration in Europe
Pecho, Maroš ; Čajka, Radek (advisor) ; Hinčica, Vít (referee)
The bureaucratic structures of European Union, Eurozone etc.; deal with the issue of monetary integration these days. This point was achieved, because of the beginning of debt crisis, which has erupted in 2009. In this thesis is a clear explanation of monetary integration in general, hers costs and benefits and also historical development within the framework of monetary union in Europe. The emphasis is placed on creation reasons of debt crisis, with detailed description and interpretation of the global imbalances principle, applied on Eurozone members. In the part discussing global imbalances are stated PIIGS states and their main task within the framework of debt crisis. The most important part is the part, noticing the concrete steps in European integration deepening such as formation of stability mechanisms -- EFSM, EFSF, ESM; continues to preparation of formation named as bank union; introduction of financial transaction tax etc. The might and theoretical solutions, like Eurobonds or disintegration of Eurozone, are also included. The last paragraph sums up impact of debt crisis on integration processes.
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European monetary union and financial crisis
Sedlacký, Tomáš ; Witzany, Jiří (advisor) ; Marková, Jana (referee)
This diploma thesis describes the formation of The European monetary union, financial situation of the member countries before the start of the debt crisis in eurozone. The thesis focuses on the PIIGS countries, which includes Portugal, Ireland, Italy, Greece and Spain. Consequently it deals with the course of the debt crises, the financial support provided to PIIGS countries and possibilities of the future development of the EU, respectively eurozone.
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Searching for the Role of Germany in Eurozone Crisis
Krsek, Tomáš ; Němcová, Ingeborg (advisor) ; Hnát, Pavel (referee)
In my graduation theses I deal with the eurozone crisis. This crisis can be seen in relation to the causes of it, as a result of many factors of varying importance - the global financial and economic crisis, the State lavishness, the construction of EMU, etc. Eurozone crisis can however be also seen in the inability of states to agree on the future appearance of the eurozone. In the first two chapters I analyze the first mentioned approach, namely financial and debt crisis with regard to their expensiveness. In detail I attend to interconnection of banking and debt crisis and the role of the ECB. In the second part I come to the principal point of my work, another approach to the crisis, namely the attitude of Germany to address problems of EMU. Germany therefore, that as the largest economy of EMU it forms it the most, but also carries the largest share of costs. I will analyze both the priorities of Germany, and his approach to promoted measures from the fiscal compact to Eurobonds. Eventually, through an analysis of the attitudes of actors in Germany - the German Government, the political opposition, the constitutional court, the Bundesbank, the German academics, public opinion - I come to a conclusion that the position of Germany is divided, however, at least for political representation I can not yet speak of fundamental contradictions. But it seems that the German population begins to differ in this way from their political representatives. The future will show us how serious this discrepancy will be and what results will it bring.
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