Resumo
O objetivo deste artigo é analisar o impacto que teve a crise da dívida soberana na zona euro. Além disso, este artigo analisa os efeitos que o risco soberano está a ter sobre a transmissão da política monetária na área do euro através de crédito bancário. A eclosão da crise da dívida soberana em 2010 levou a crescentes preocupações sobre o risco soberano, especialmente nos países da periferia europeia (Espanha, Portugal, Irlanda, Itália e Grécia). A constatação do aumento do risco soberano piorou as condições de financiamento do sector bancário, levando a assimetrias no processo de transmissão da política monetária entre os países.
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