Cite as https://mymun.com/ppdb/8114
TOPIC A: Proposals for debt restructuring programs for any indebted Eurogroup country
The financial crisis of 2007 – 2009 has developed into a government debt crisis. By late 2009, doubts relating to Greece’s solvency permeated the capital markets. Subsequently, Ireland, Portugal and Spain became suspect as well. The fear that the European debt crisis would spread, causing problems within the European banking sector, was the key reason for granting support to both Greece and Ireland. As concerns intensified in early 2010 and thereafter, leading European nations implemented a series of financial support measures such as the European Financial Stability Facility (EFSF) and European Stability Mechanism (ESM...