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Then and Now: The European Debt Crisis

48.3% THE FINLAND 53.9% DEBT QUAKE 43.8% 5.1% November 21, 2010: Ireland requests a bailout from the European Union and the IMF. 39.7% 6.7% ESTONIA IN THE 12.3% SWEDEN 52.4% 44.7% EUROZONE LATVIA 43.7% 79.9% 54.9 % LITHUANIA 23.7% 62.9% DENMARK 41.0% E83.2% 36.8% 38.0% IRELAND 53.8% UNITED KINGDOM 94.9% KEY 59.7% POLAND NETHER- LANDS 37.8% 107.9% Public Debt as a Percentage of GDP: 37.6% 50.3% 100% BELGIUM GERMANY 18.5% 41.0% 19.1% LUXEMBOURG 82.3% in 2010 10% 96.2% 71.8% in 2000 CZECH REPUBLIC 6.2% "SLOVAKIA 54.9% 59.7% FRANCE 31.0% AUSTRIA As the global economy continues to falter, all eyes are fixed on the European Union nations who have been rocked by credit downgrades, bailout discussions, and austerity measures. The recent events have even May 9, 2010: Based in Luxembourg, the European Financial Stability Facility (EFSF) is created by the Euro area Member States to help combat the European sovereign debt crisis. 82.3% HUNGARY October 18, 2011: Moody's cuts Spain's credit rating from A1 to Aa2. ROMANIA 22.5% SLOVENIA 57.3% 2000 figures unavailable 38.8% forced the resignation of the prime ministers of Greece and Italy. Here we examine how government 93.3% 144.9% BULGARIA debt as a percentage of GDP, an indicator of a nation's current economic fortitude, has changed 48.5% ITALY 118.4% 72.5% SPAIN 61.0% from 2000 to 2010 for all 27 European Union 103.4% 16.3% countries, including the 17 within the Eurozone. 59.3% PORTUGAL 109.2% GREECE November 12, 2011: After an unprecedented spike in sovereign yields, prime minister Berlusconi loses Italian bonds three points majority in parliament and is forced to resign. They are now trying to pass reforms designed to stave off further November 9, 2011: Amid political and market tremors over a proposed referendum on the bailout package, Greek Prime Minister, George Papandreou resigns, clearing the path for the adoption of austerity measures necessary for Greece's next bailout payment. October 4, 2011: 69.0% Moody's downgrades April 23, 2010: Greece April 6, 2011: Portugal requests a bailout from the mint. from Aa2 to A2, with a negative outlook. requests a bailout from the 55.9% European Union. European Union. .com pressures. MALTA Source: epp.eurostat.ec.europa.eu

Then and Now: The European Debt Crisis

shared by ColumnFive on Nov 30
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As the global economy continues to falter, all eyes are fixed on the European Union nations who have been rocked by credit downgrades, bailout discussions, and austerity measures. Here we examine how ...

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