European sovereign-debt crisis
Also known as Eurozone crisis, European sovereign debt crisis, European debt crisis, Eurozone debt crisis
multi-year debt crisis in multiple EU countries since late 2009
AI overview
Starting in late 2009, several European Union countries faced a debt crisis that lasted for years, meaning their governments had borrowed so much money that they struggled to repay it. This mattered because when these countries couldn't pay their debts, it threatened the stability of Europe's economy and required major financial interventions to prevent broader economic collapse.
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- point in time
- 2010-00-00
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Article
Long-term interest rates (secondary market yields of government bonds with maturities of close to ten years) of all eurozone member states (except Estonia, Latvia, and Lithuania). A yield being more than 4% points higher compared to the lowest comparable yield among the eurozone states, i.e. yields above 6% in September 2011, indicates that financial institutions have serious doubts about credit-worthiness of the state.
The euro area crisis, also known as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a debt crisis and financial crisis in the European Union (EU) that occurred between 2009 and 2018.