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Topic A: Proposal for debt reconstructing programs for any indebted Eurogrup country

Since the initiation of the Maastricht Treaty in 1992 real interests rates in the Eurozone fell and there was a reduction in the barriers between the EU states, which improved growth outlooks. Therefore, investor and consumer confidence grew and government could now borrow cheaply to finance growth. The financial crisis of 2008 left the Eurozone with a challenging situation. Five of the region’s countries – Greece, Ireland, Italy, Portugal, and Spain have failed to generate enough economic growth to leave the impression of a guaranteed payback to the bondholders. Support was offered both to Gree...