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Period: to
economic crisis
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The Start of it all
Greece, Portugal, Ireland, Italy and Spain have failed to generate enough economic growth to pay back bondholders. -
Italy
The Prime Minister of Italy told the Italians that the fate of their country and the euro was at stake. He made some unpopular decisions, one of them was raising the retirement age. -
Germany and France
The German Chancellor and the President of France joined forces and agreed to penalize countries that exceed the European deficit. -
U.S. 's Role
The US is behind the scenes encouraging European leaders to move towards calm markets. -
European Central Bank
The European Central Bank cut the benchmark interest rate for the second month in a row. They also expanded emergency funding to cash-starved banks. -
Euro zone treaty
Members of the Euro-zone signed a treaty meaning they have to be have financial dicipline in their future budgets. -
All Time Lows
The Euro was at the lowest levels of the year meaning that a recession is nearing. -
Russia Steps In
Russia said they might pledge $20 billion in an attempt to stablize the euro. -
Analysis of the Future.
I think in the future the euro is going to be stable. It is going to take time and commitment from all European countries. As long as the countries put the effort into stablizing the Euro, I think it will happen. However, I do think it will take some time before the euro is completely stable. European countries have done a lot of work in stablizing the euro in the past week and if they keep this kind of work up the euro should eventually stablize. -
Bibiliographies
Goldfarb, Zachary A., and Neil Irwin, . "U.S. Officials Quietly Cajole European Leaders on Debt Crisis - The Washington Post." Washington Post: Breaking News, World, US, DC News & Analysis. Web. 19 Dec. 2011. http://www.washingtonpost.com/business/economy/us-officials-quietly-cajole-european-leaders-on-debt-crisis/2011/12/06/gIQAywMxaO_story.html. "What Is the European Debt Crisis?" Bonds - Investing in Bonds. Web. 19 Dec. 2011. <http://bonds.about.com/od/advancedbonds/a/What-Is-The-Euro -
Bibiliographies
"European Debt Crisis - The New York Times." Times Topics - The New York Times. 19 Dec. 2011. Web. 19 Dec. 2011. http://topics.nytimes.com/top/reference/timestopics/subjects/e/european_sovereign_debt_crisis/index.html.
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