12 See, for example, Brunnermeier, M. K., Langfield, S., Pagano, M., Reis, R., van Nieuwerburgh, S. and D. 3/4  BIS central bankers' speeches  Vayanos, (2016), “ESBies: Safety in the tranches”, European Systemic Risk Board Working Paper 21, Reis, R., (2013), “The Portuguese Slump and Crash and the Euro Crisis”, Brookings Papers on Economic Activity, 44, 143–210, and Reis, R., (2015), “Looking for a Success in the Euro Crisis Adjustment Programs: The Case of Portugal”, Brookings Papers on Economic Activity, 46, 433–458.
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