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Debt crises - Policy initiatives by governments and European authorities

Following the global financial and sovereign debt crises (and subsequent recession period), many European banks have experienced a deterioration in their balance sheets, often characterized by high volumes of non- performing loans (NPLs).

Country-specific characteristics have influenced the timing and effectiveness of the resolution of the problem, whose intensity varies across jurisdictions.

Over recent years, a comprehensive set of policy initiatives have been undertaken by both national governments and relevant European authorities in order to tackle the NPL burden, which is still a prominent feature of the European banking landscape.

In the light of recent developments within the European banking sector, and by providing pertinent examples, your task is to:

1. Critically discuss the implications for banks of having high levels of NPLS.

2. Critically analyse the latest developments in the European banking sector in terms of NPLs.

3. With a specific focus on the Italian banking sector:

a) Discuss the main causes of the NPL issue

b) Discuss the key phases of the evolution of the NPL issue

c) Critically analyse the main policy initiatives undertaken to solve the problem.

(20 marks) (20 marks)

(20 marks) (20 marks) (20 marks)

Important elements in a successful assignment on this topic:

[TOTAL 100 MARKS]

Literature review based on highly-recognized academic journals. You should demonstrate your capability in reading and research beyond the material provided and discussed in lectures.

A minimum of eight references from academic journals is expected. In addition, referring to respected financial media (e.g. Financial Times, The Economist) and international news agencies (e.g. Reuters) is also relevant to build a critical and up-to-date review of the recent developments.

Graphs, data and tables will positively contribute in presenting your critical review (the maximum number of graphs/tables/figures is four).

1 This assignment will account for 30% of the final mark for this class.

2 The University late penalty scheme will be applied:  https://www.strath.ac.uk/media/ps/cs/gmap/academicaffairs/policies/Policy_and_Procedure_for_the_Late_Submission_of_Coursework.pdf.p agespeed.ce.dLHAxb3k-D.pdf

The essay should include adequate citations of papers and various sources of information, reported in a list of references at the end of your document (and organised alphabetically). The reference list should not be included in the word count.

Word limit: 2,000 +/- 10% (approx. 6 pages A4, 1.5 line spacing, 12 point font). You must state the word count on the cover page of your work.

Debt crises - Policy initiatives by governments and European authorities

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