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  2. Euro area crisis - Wikipedia

    en.wikipedia.org/wiki/Euro_area_crisis

    The euro area crisis was caused by a sudden stop of the flow of foreign capital into countries that had substantial current account deficits and were dependent on foreign lending. The crisis was worsened by the inability of states to resort to devaluation (reductions in the value of the national currency) due to having the euro as a shared ...

  3. Great Recession in Europe - Wikipedia

    en.wikipedia.org/wiki/Great_Recession_in_Europe

    The Eurozone recession has been dated from the first quarter of 2008 to the second quarter of 2009. [2] In the eurozone as a whole, industrial production fell 1.9% in May 2008, the sharpest one-month decline for the region since the Black Wednesday exchange rate crisis in 1992.

  4. 2000s European sovereign debt crisis timeline - Wikipedia

    en.wikipedia.org/wiki/2000s_European_sovereign...

    This was the first Eurozone crisis since its creation in 1999. As Samuel Brittan pointed out, [6] Jason Manolopoulos "shows conclusively that the Eurozone is far from an optimum currency area". [7] Niall Ferguson also wrote in 2010 that "the sovereign debt crisis that is unfolding... is a fiscal crisis of the western world". [8]

  5. Timeline of the Great Recession - Wikipedia

    en.wikipedia.org/.../Timeline_of_the_Great_Recession

    Taiwan's economy exits from the recession with 9.22% growth in the last quarter of 2009 after increased demand from China and other key markets in the region. [113] February 24, 2010: Eurozone; Europe risks a double-dip recession after bad results emerged from France, Germany and Italy. The Eurozone only grew by 0.1% in the last quarter of 2009 ...

  6. Economy of the European Union - Wikipedia

    en.wikipedia.org/wiki/Economy_of_the_European_Union

    The Eurozone or euro area (dark blue) represents around 350 million people. The euro is the second-largest reserve currency in the world. Since 1999, 20 EU states use the euro as official currency in a currency union. The remaining 7 states continue to use their own currency with the possibility to join the euro later.

  7. History of the euro - Wikipedia

    en.wikipedia.org/wiki/History_of_the_euro

    Euro Zone inflation. The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange ...

  8. Economic reforms and recovery proposals regarding the ...

    en.wikipedia.org/wiki/Economic_reforms_and...

    There has been substantial criticism over the austerity measures implemented by most European nations to counter this debt crisis. US economist and Nobel laureate Paul Krugman argues that an abrupt return to "'non-Keynesian' financial policies" is not a viable solution [18] Pointing at historical evidence, he predicts that deflationary policies now being imposed on countries such as Greece and ...

  9. Causes of the euro area crisis - Wikipedia

    en.wikipedia.org/wiki/Causes_of_the_euro_area_crisis

    Public debt $ and %GDP (2010) for selected European countries Government debt of Eurozone, Germany and crisis countries compared to Eurozone GDP. The European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, was a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s that made it difficult or ...