Advances in Economics and Business Vol. 3(10), pp. 421 - 427
DOI: 10.13189/aeb.2015.031001
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Credit Crunch in Europe: Comparing Austria, Italy and Greece

Edoardo Catelani *
Department of Science, Economics and Business, University of Florence, Italy


Since the debt crises of some European countries in 2011, the European Central Bank and some credit and financial authorities have often spoken about a credit crunch in Europe. They have said that banks have curbed credit access to the economic system, creating persistent problems for the European economy. The aim of this paper is to analyze the problem of the credit crunch in Europe from 2007 to 2014, taking as our sample three European countries: Austria, Italy and Greece. These are countries with different economic structures, so they represent a significant sample for our purposes. Using statistical analysis, we will measure the entity of the credit crunch. We will find that the credit crunch is indeed present in Europe, but maybe is not as dramatic as has been described.

Banking System, Credit Crunch, European Economic Crisis

Cite this paper
Edoardo Catelani . "Credit Crunch in Europe: Comparing Austria, Italy and Greece." Advances in Economics and Business 3.10 (2015) 421 - 427. doi: 10.13189/aeb.2015.031001.