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What explains the rise in non-performing loans (NPLs) in the euro area following the outbreak of the global financial crisis - Greece Case Study

The present study utilizes a number of empirical methodologies to explain the evolution of NPLs in a large group of advanced and emerging market economies in the period before and after the global financial crisis, placing particular focus on a number of Eurozone economies (including Greece) that have been severely hit by the euro area debt crisis.