Debt crisis

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Debt crisis is the general term for a proliferation of massive public debt relative to tax revenues, especially in reference to Latin American countries during the 1980s, and the United States and the European Union since the mid-2000s.[1][2][3][4]

Current and recent debt crises[edit]

Europe[edit]

European debt crisis[edit]

Main article: European debt crisis

The European debt crisis is a crisis affecting several eurozone countries since the end of 2009.[5][6] Member states affected by this crisis were unable to repay their government debt or to bailout indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank).[7] The causes of the crisis included high-risk lending and borrowing practices, burst real estate bubbles, and hefty deficit spending.[8] As a result, investors have reduced their exposure to European investment products, and the value of the Euro has decreased.[9]

Other European debt crisises[edit]

Latin America[edit]

North America[edit]

See also[edit]

References[edit]

  1. ^ "Europe Banks Selling Sovereign Bonds May Worsen Debt Crisis" - SFGate
  2. ^ "Who is Handling Debt Crisis Better, United States or Europe" - US News [1]
  3. ^ "Europe's Web of Debt" by Nelson D. Schwartz, New York Times
  4. ^ "How's the Argentina Recovery Coming Along?" by Tyler Cowen
  5. ^ "Timeline: The unfolding eurozone crisis". BBC News. Retrieved 6 March 2015. 
  6. ^ Blundell-Wignall, Adrian (2011). "Solving the Financial and Sovereign Debt crisis" (PDF). Organisation for Economic Co-operation and Development. Retrieved 6 March 2015. 
  7. ^ "Troika ‘governor’ of European ‘colonies’: Lawmakers fed up with debt crisis tactics". RT. 27 February 2014. Retrieved 6 March 2015. 
  8. ^ Brown, Mark; Chambers, Alex (September 2005). "How Europe's governments have enronized their debts". Euromoney. Retrieved 6 March 2015. 
  9. ^ Johnson, Steve (1 March 2015). "Investors slash exposure to the euro". Financial Times. Retrieved 6 March 2015. (subscription required (help)).