Cambridge University Press Personal Debt in Europe: The EU Financial Market and Consumer Insolvency

Product Description Personal debt remains an important factor in many economic models because it encourages people to use debt to finance consumption. Whether this model is sustainable for individuals or the countries in which they reside is an ongoing question of great complexity and many social and economic implications, not only for the burdened individuals and their countries, but also for the EU as a whole. In Personal Debt in Europe, Federico Ferretti and Daniela Vandone examine the 'dark side' of personal debt, or over-indebtedness, in social and economic terms, and legal terms. They employ cross-country consumer-level data to present the latest empirical studies on the problem, analyse these findings to better understand its nature and causes, and discuss the merits of proposed insolvency legislation and harmonisation initiatives in the EU. Book Description Analyses personal debt and the over-indebtedness of consumers in the European Union from the multi-disciplinary perspectives of economics, policy, and law. About the Author Federico Ferretti is Associate Professor in Economic Law and Financial Markets, Department of Sociology and Economic Law, University of Bologna (Italy) and a member of the Financial Services User Group of the European Commission. He is a qualified lawyer of the High Courts of Italy.Daniela Vandone is Full Professor of Banking and Finance, Department of Economics, Management, and Quantitative Methods, University of Milan. Her research interests are in financial markets and institutions, with a focus in the microeconomics of banking, financial regulation, financial decision-making, household finance, personal debt, and over-indebtedness.