Cite as https://mymun.com/ppdb/8112
Position Paper from the Grand Duchy of Luxembourg by Sebastian Scott
TOPIC A: Proposals for debt restructuring programs for any indebted Eurogroup country
The financial crisis in 2008 left the Eurozone with a challenging situation, arguably leading to political power shifts in 10 out of 19 member states. Due to credit trouble overreaching from the United States the credit market in the Eurozone started stumbling. Caused by the American housing bubble the bailout of banking systems transferred private debt into government hands leading to increasing government debt. This being one of many reasons, almost two years later the Euro...