The article looks at how stress in the interbank money market affected credit markets after the 2007-2008 financial crisis in the US and Euro area. The researchers studied indicators of money market stress in 2010 and early 2011 to see how changes in interest rates impacted credit market rates, especially in the Euro area. They found that high inflation pressures led to an expected increase in the ECB key interest rate in 2011, and heavily indebted Euro area countries had to issue bonds with high yields to raise funds.