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  2. Capital control - Wikipedia

    en.wikipedia.org/wiki/Capital_control

    Cyprus, a Eurozone member state which is closely linked to Greece, imposed the Eurozone's first temporary capital controls in 2013 as part of its response to the 2012–2013 Cypriot financial crisis. These capital controls were lifted in 2015, with the last controls being removed in April 2015. [73]

  3. Impossible trinity - Wikipedia

    en.wikipedia.org/wiki/Impossible_trinity

    Option (b): An independent monetary policy and free capital flows (but not a stable exchange rate). Option (c): A stable exchange rate and independent monetary policy (but no free capital flows, which would require the use of capital controls). Currently, Eurozone members have chosen the first option (a) after the introduction of the euro.

  4. 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 ...

  5. 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 ...

  6. Economic and Monetary Union of the European Union - Wikipedia

    en.wikipedia.org/wiki/Economic_and_Monetary...

    On 1 July 1990, exchange controls are abolished, thus capital movements are completely liberalised in the European Economic Community. The Treaty of Maastricht in 1992 establishes the completion of the EMU as a formal objective and sets a number of economic convergence criteria , concerning the inflation rate, public finances, interest rates ...

  7. Eurozone - Wikipedia

    en.wikipedia.org/wiki/Eurozone

    The euro area, [8] commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro as their primary currency and sole legal tender, and have thus fully implemented EMU policies.

  8. Proposed long-term solutions for the eurozone crisis - Wikipedia

    en.wikipedia.org/wiki/Proposed_long-term...

    Public debt $ and %GDP (2010) for selected European countries Government debt of Eurozone, Germany and crisis countries compared to Eurozone GDP. The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–08 period that encouraged high-risk lending and borrowing practices; the 2007–2008 ...

  9. Policy reactions to the eurozone crisis - Wikipedia

    en.wikipedia.org/wiki/Policy_reactions_to_the...

    Spread of interest rates in Eurozone countries. 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.