Abstract

LOPEZ G., Mauricio; RODRIGUEZ V., Amalia  and  AGUDELO G., Juan Pablo. Sovereign debt crisis in the Eurozone. Perf. de Coyunt. Econ. [online]. 2010, n.15, pp.33-58. ISSN 1657-4214.

The international financial crisis of 2008-2009, whose effects extended from the United States to Europe and the rest of the world, potentiated and detonated a series of structural issues in some European economies. Specifically, the higher public debt, used as a growth engine in some of them, reached record levels that left in check the sustainability of public finances and thus, of the entire economic system of countries such as Greece, Spain, Ireland and Portugal. Given the situation, adjustment plans have been common both from the directly affected countries and from the other members of the economic zone. The picture has questioned the future of the Eurozone as well as of the effectiveness of the controls and penalties for those economies without a proper management of their public finances.

Keywords : Debt crisis; sustainability; Eurozone; public finances.

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