Scholars

Stavros Zenios

Non-resident fellow

Stavros Zenios is a Cypriot citizen with a long career in the USA. His current research focuses on sovereign debt issues. He is working on the development of stochastic dynamic models for debt sustainability analysis and risk management for sovereigns, on sovereign contingent debt such as GDP-linked bonds and sovereign coco’s, and on disentangling the impact of economic policy and political stability risks. He regularly appears on National media discussing issue relating to the Cyprus crisis, transparency and corruption, and consulted by the international press on Eurozone crisis issues. During 2013-2014 he was Vice chairman of the Cyprus Council of Economic Advisors and served on the Board of the Central Bank of Cyprus (2014-2015).  He served two terms as President of UNICA-Universities of European Capitals (2004-2012) and two terms as Rector of University of Cyprus (2002-2010).

He is a professor of finance and management science at University of Cyprus, Adjust professor at the Norwegian School of Economics and Senior Fellow at the Wharton School, USA.

He received a PhD in engineering management systems from Princeton University. He also studied mathematics at University of London and electrical engineering with the Higher Technical Institute in Cyprus.

He published more than 150 scholarly articles in some of the leading journals in the fields of finance, management science and operations research. He authored five books and edited seven with Cambridge University Press, Blackwell and Wiley Finance. He co-authored with Yair Censor the award-winning book "Parallel Optimization", Oxford University Press. His book with Patrick Harker on "Performance of Financial Institutions" was translated in Chinese.

Declaration of interests 2019-2020
Declaration of interests 2018

Contact information

[email protected]

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Blog Post

Coronavirus and the politics of a common fiscal instrument

Coronavirus means many European Union countries will soon face major increases in their sovereign debt burdens, exacerbated by the sudden collapse of economic activity. What should the European Union do to address these debt problems?

By: Mark Hallerberg and Stavros Zenios Topic: European Macroeconomics & Governance Date: March 25, 2020
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Blog Post

Incorporating political risks into debt sustainability analysis

DSA applies to crisis countries only, but an early warning system identifying vulnerabilities is relevant for all countries. A more general, less stringent, debt vulnerabilities analysis (DVA) could be used to assess countries’ debt management policies and identify vulnerabilities, without leading immediately to policy consequences. A more general framework could also incorporate political risks that are significant determinants of debt dynamics

By: Andrea Consiglio and Stavros Zenios Topic: European Macroeconomics & Governance, Global Economics & Governance Date: January 22, 2020
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Working Paper

State contingent debt as insurance for euro-area sovereigns

Since the financial crisis, EU countries' economies have recovered to the point that they are exiting their adjustment programmes. Institutional stability mechanisms have been improved at the European level, with the promotion of the banking union and the establishment of a European Monetary Fund, for instance. However, the authors argue that such crisis contingencies should include markets in their risk-sharing, which would require better coordination with institutions.

By: Maria Demertzis and Stavros Zenios Topic: Finance & Financial Regulation Date: April 26, 2018
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Blog Post

EU borders: walking backwards from Northern Ireland to Cyprus

The Good Friday agreement put to rest age-old conflicts on Ireland. It also offered hope that the reunification of Cyprus might be possible within the European Union. Lately, however, the “Green Line” that divides the easternmost island of the EU, is viewed as a template for a soft border at the westernmost island of the Union after Brexit.

By: Stavros Zenios Topic: European Macroeconomics & Governance Date: October 25, 2017