Translation of "Ansteckungseffekte" in English

The best defence against contagion is the ring-fencing of our budgetary positions.

Contagion effects exist in both directions.

Potential spillover effects between loan portfolios and institutions are not taken into account.

In the early stages of the crisis, these cross-border contagion effects were magnified by the lack of appropriate financial backstops.

The banks conjure up possible contagion effects to escape unharmed and to get the taxpayers to foot the bill.

This can reduce the likelihood that contagion effects within the financial system might amplify an economic downturn.

The financial crisis of recent years has primarily revealed the possible knock-on effects of various financial systems.

In recent weeks contagion fears from Greece to Eastern Europe have resurfaced.

Once contagion effects within the euro area became ominous, governments reacted by overseeing the Greek adjustment program and by creating the European Financial Stabilization Facility (EFSF), a temporary safety net for other major debtor countries.

It involves creating a smaller and more economically coherent eurozone, which would consist of core and near-core countries within a tighter fiscal union and more credible defenses against contagion.

Intra-day volatility rose in virtually every segment of global financial markets; adverse price contagion became more common as more vulnerable entities contaminated the stronger ones; and asset-market correlations were rendered less stable.

This allowed managers to pursue more long-term goals and proved effective in blocking contagion effects.

Since the objective of this Regulation, namely the effective enforcement of the correction of excessive macroeconomic imbalances in the euro area, cannot be sufficiently achieved by the Member States because of the deep trade and financial interlinks between Member States and the spill-over effects of national economic policies on the Union and the euro area as a whole, and can therefore be better achieved at the level of the Union, the Union may adopt measures in accordance with the principle of subsidiarity, as set out in Article 5 of the Treaty on European Union.

When assessing macroeconomic imbalances, account should be taken of their severity and their potential negative economic and financial spill-over effects which aggravate the vulnerability of the Union economy and are a threat to the smooth functioning of the economic and monetary union.

That abrogation should be based on a comprehensive analysis by the Commission showing that the Member State has acted in line with the relevant Council recommendations and that the underlying causes and associated risks identified in the Council recommendation opening the excessive imbalance procedure no longer exist, taking account, inter alia, of macroeconomic developments, prospects and spill-over effects.

Since the objective of this Regulation, namely the establishment of an effective framework for the detection of macroeconomic imbalances and the prevention and correction of excessive macroeconomic imbalances, cannot be sufficiently achieved by the Member States because of the deep trade and financial interlinks between Member States and the spill-over effects of national economic policies on the Union and the euro area as a whole, and can therefore be better achieved at the level of the Union, the Union may adopt measures in accordance with the principle of subsidiarity, as set out in Article 5 of the Treaty on European Union.

It shall examine the origin of the detected imbalances against the background of prevailing economic circumstances, including the deep trade and financial interlinks between Member States and the spill-over effects of national economic policies.

The Commission may decide to subject to enhanced surveillance a Member State experiencing or threatened with serious difficulties with respect to its financial stability which are likely to have adverse spill-over effects on other Member States in the euro area.

The monitoring of internal indicators can also be justified on its own sake on the ground that internal imbalances can have repercussions on other Member States, particularly via financial contagion.

Risks would be spread more widely, enhancing financial stability not only in the Member State concerned but also in other participating and non-participating Member States, by limiting potential contagion effects.

The threat of such contagion means a Brexit vote could be the catalyst for another global crisis.

Since the beginning of the financial crisis in East Asia, the Russian authorities have shown a strong determination to counter its negative effects.

As the Financial Stability Review 2018 points out, an unexpected, sharp economic downturn could expose these vulnerabilities, and contagion effects in the financial system could amplify the downturn.

OeNB experts also developed the Systemic Risk Monitor (SRM), an innovative tool – both from an academic perspective and from the practitioner’s view –that has earned international recognition. The SRM allows analysts to simulate multiple scenarios, thereby enabling them to assess key risk categories (credit and market risks) simultaneously and quantify the potential effects of contagion between banks.

And the fourth may cause contagion effects via capital markets, possibly forcing policymakers to introduce capital controls, as in Cyprus in 2013.

The Fund's Contingent Credit Lines—an instrument introduced in 1999 to provide a precautionary line of defense for countries vulnerable to contagion despite sound fundamentals—expired, unused, on November 30, 2003.