Acceso usuarios
As international market-based banking took hold across advanced-country economies, European banks stood at the centre of a large increase in international capital flows. Acute disruption of these flows was central to the experience of large French, German and UK banks during the 2007–2008 financial crisis and the euro zone crisis and to the euro zone periphery during the euro zone crisis. The crises around these flows show the explanatory importance of structural external constraints in understanding the economic and political predicaments of financialised economies both in terms of destabilising international financial markets and the power dynamics created by access to emergency credit.
