Bank Lending During the Financial Crisis of 2008

Author(s):  
Victoria Ivashina ◽  
David S. Scharfstein
2010 ◽  
Vol 97 (3) ◽  
pp. 319-338 ◽  
Author(s):  
Victoria Ivashina ◽  
David Scharfstein

Author(s):  
Rachel A. Epstein

One reason governments have protected their banks from foreign ownership is that they feared foreign-owned banks would “cut and run”—i.e. abandon their host markets—in a financial crisis. An unexpected finding of this chapter, however, is that while foreign banks’ commitments to host markets have indeed been fleeting in crises, those commitments were weakest when the relationship between foreign banks and host markets was not characterized by ownership. Thus it was foreign ownership through a “second home market” model and bank subsidiaries during the acute phase of the US financial crisis (2008–9) that saved East Central Europe from economic catastrophe. In Western Europe, meanwhile, where foreign bank ownership levels were low but cross-border lending was significant, bank lending retreated behind national borders. This chapter also rejects the argument that the Vienna Initiative, a voluntary bank rollover agreement, compelled foreign-owned banks to maintain their exposures in East Central Europe.


2021 ◽  
Vol 6 (2) ◽  
pp. 159-174 ◽  
Author(s):  
T. Anna

Taking the murder of Greek HIV+ and queer activist Zak Kostopoulos as its starting point – an exercise of necropolitical power in broad daylight – this article explores the work of drag queens in Greece and their aesthetic/political choices. It interprets their performances as tactics of survival and resistance and as creative responses to queer trauma. The role of queerfeminist spaces, cultural events and collectives also is examined as a response to the increasing right-wing turn in the country’s political scene – itself the result of the financial crisis of 2008. It imports José Esteban Muñoz’s disidentifications and counterpublics, Elizabeth Freeman’s erotohistoriography and Achille Mbembe’s necropolitics into the Greek/Balkan context and analyses the particular configurations and intersections of sexualities, genders, statehood, race, class and religion in Greece. It then examines disidentifications and counterpublics as empowering practices of community forming, offering glimpses of a queer Balkan counterpublics and the tools employed towards its making (humour, parody, reclaiming, disidentification, mourning and embodied pleasures).


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