Greece is on the brink of meltdown due to spiraling debt, and the deficit crisis is continentally contagious. Last year, the International Monetary Fund bailed out Greece to the tune of 110 billion euros, contingent on the implementation of strict austerity measures. On the heels of this dramatic action came bailout packages for Ireland and Portugal. And the Greek tragedy is far from over as the debate over whether to accept debt-forgiveness conditions upended the government in Athens. Furthermore, other debt-laden European nations risk going under.
Discover Eurozone Crisis Content
FILTER BY DATEAll Time
FILTER BY RELEVANCEMost Recent
FILTER BY CONTENT TYPEAll Content Types
Russia and the West have fundamentally different views on Russia's legimitate interest in Ukraine. The resulting escalating sanctions are now threatening economic growth for all of Europe.
If European policymakers do not move quickly on issues of fiscal policy and a European banking union, the world should brace itself for another round of the European sovereign debt crisis once interest rates begin to rise.
Over the past two years, European policymakers have not taken full advantage of favorable global market conditions. As a result, there remains a real risk that the Eurozone will experience yet another crisis once interest rates normalize.