Professional Documents
Culture Documents
Brief History
Causes for the Crisis
Remedial Actions
Impact on Indian Economy
Conclusions
This is also known as Eurozone sovereign debt crisis
When a nation lives beyond its means by borrowing heavily and spending
freely, there comes a point when it cannot manage its financial situation.
Members of the European Union signed the Maastricht Treaty, under which
they pledged to limit their deficit spending and debt levels.
Spain, Portugal, and the other nations later followed Greece with alarming
levels of debt on their economies.
COUNTRIES STATISTICS
France Debt/G.D.P: 81.7%
Unemployment. Oct 2011: 9.8%
S&P Rating: AAA
Decline in trade