The Euro crisis

Thèmes abordés

Euro crisis - Greece - Portugal - Ireland - impacts -government debt

Résumé du document

The European sovereign debt crisis is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to re-finance their government debt without the assistance of third parties.

With this crisis risk's, it should be relevant to try to understand what were the causes of this crisis and what are the effects on the countries who were the most hardly stricken, like Greece but also Ireland and Portugal

Extraits

[...] Trade imbalances problem and loss of confidence Negative trade imbalances due to weak exports Loss of confidence Role of the rating agencies 4 A. Ireland Specific crisis Consequences of the bubble burst Austerity package 7 B. Portugal Over-spending policies, with dramatic economic consequences European Union and IMF help Austerity packages Political consequences 8 C. Greece Greek huge public spending, and development of fragile sectors of activities Lack of financial transparency Loss of confidence with worldwide consequences Social and political consequences 9 Euro crisis: combination of complex factors Reconsider Euro as the European currency? Evolution of the crisis? [...]