The Eurozone Crisis

Introduction The euro zone crisis can be regarded as the most important economic problem in the history of the European Union. Because of this crisis, the currency union faces the possibility of separation. It is a very important issue both economically and politically. Before the subprime mortgage crisis triggered by the collapse of the Lehman Brothers in 2008, the economic level of the EU member states was similar. When bankruptcy occurred, these countries began to distinguish in a very important way.

The European debt crisis (also commonly referred to as the euro area crisis or the European sovereign debt crisis) is a multi-year debt crisis in the EU since the end of 2009. Several euro zone member countries (Greece, Portugal) have no other euro area countries, and third country assistance such as the European Central Bank (ECB) or international organizations (Ireland, Spain, Cyprus) Can not repay or refinance debt or oversee the state Bank IMF (IMF) to relieve excessive debt

Three European crises - euro area crisis, Brexit and refugee crisis - may each pose serious problems even if they do not exacerbate the other dangers, respectively. The crisis in the euro area is an inevitable result arising from the flaws of the organizational structure, in particular the shortage of financial centers and final lenders, and the lack of various types of capitalist economies that are not converging to critical areas. Due to the inability to integrate domestic wages, especially Germany and Greece, Spain, Portugal, Italy, the gap between real exchange rate and trade balance widened. Brexit's ongoing crisis withdraws from the EU and its 27 partners and involves major global economic and financial centers. The refugee crisis, the war in Africa and the Middle East, the effects of instability and poverty continue today, and we are putting more pressure on EU institutions

Outside of Greece, this crisis is also saying a lot to the euro area. Speaking from a purely systematic point of view, the EU can sigh a sense of security. The euro area remains in the worst crisis, its short duration. This seems to be a natural conclusion in 2018, but when the Greek government was negotiating the 3 rd rescue plan three years ago, the result was not very obvious. Within the European Union - as the technocrats of Germany and other countries say - the euro area will be stronger without Athens, and this discussion is fierce. After all, the group's biggest economic countries - Germany, France and Italy - are afraid to prompt Greek eurozone dismissals to give up on other countries, especially the Mediterranean, fear the new relief plan with Greece's political agreement Signed. Universal Panic