Introducing the European debt crisis

The European debt crisis is a debt crisis of European sovereignty. Refers to the debt crisis of Greece and other EU countries after the 2008 financial crisis.

European debt crisis, the full name of European sovereign debt crisis, refers to the sovereign debt crisis that broke out in some European countries since 2009. The European debt crisis is the continuation and deepening of the American subprime mortgage crisis, and its essential reason is the default risk caused by the government's debt burden exceeding its own capacity.

As early as June 5438+October, 2008, when the financial turmoil in Yueer Street began, the Icelandic sovereign debt problem in Northern Europe surfaced, and then the debt crisis in Central and Eastern Europe broke out. In view of these countries' small economies and timely international assistance, their sovereign debt problems have not caused major global financial turmoil.

In June 2009, 65438+February, the problem of Greek sovereign debt was highlighted. In April 2065, it was further fermented and began to spread to the "European Pig Five" (Portugal, Italy, Ireland, Greece and Spain).

The three major rating agencies in the United States have repeatedly downgraded the credit ratings of debtor countries such as Greece. At this point, the international community began to worry that the debt crisis might spread to the whole of Europe, thus eroding the fragile recovery momentum of the world economy.

Let's just say that the European debt crisis is a crisis aggravated by the United States to combat the euro. Because the euro wants to compete for the world currency status of the dollar, and the economic scale of the euro zone is larger than that of the United States, the United States must suppress the euro if it wants to issue more money, and people will buy dollars because of the depreciation of the euro.

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