• Thu
  • Aug 28, 2014
  • Updated: 9:19pm

Euro Zone Crisis

The euro zone crisis was triggered in 2009 when Greece's debts, left by its previous government, reached a record 300 billion euros, leaving the southern European economy with debt levels more than four times higher as a proportion of gross domestic product than the official euro zone cap of 60 per cent of GDP. Since the original problems were uncovered, Greece has been bailed out twice, and lenders have also had to rescue Ireland and Portugal. In the latter half of 2012. Cyprus also required a bailout.

Europe’s rapidly unravelling economic reform agenda

There are many casualties of the four-year-old crisis in the euro zone.

Thursday, 28 August, 2014, 11:26am

Europe’s populist backlash

The strong showing of populist and anti-establishment parties in last weekend's European Parliament elections had been on the cards for some time.

30 May 2014 - 12:59am 3 comments

Euro zone 'coming out of crisis' amid accelerating growth, Eurogroup chief says

Eurogroup president Jeroen Dijsselbloem said the euro zone is “coming out of crisis” and the member countries are expected to grow an average 1 per cent this year and 1.7 per cent next year.

The Eurogroup, the main forum for the management of the single-currency area, is an informal body that brings together the finance ministers of countries whose currency is the euro.

13 Jan 2014 - 12:38pm

Europe's jittery markets find their feet while the economy stumbles along

As 2013 draws to a close, it appears that the worst of the crisis in Europe's ailing single currency area has passed. For the past year or so, the bond markets of the periphery of the euro zone, which in 2011 and the first half of last year were a byword for panic and surging yields, have proved extremely resilient.

6 Dec 2013 - 2:12am

Spain slips out of recession as exports drive recovery

Spain escaped from a two-year recession in the third quarter of this year with growth of 0.1 per cent, though unemployment remained extremely high, official data showed on Wednesday.

Strengthening exports drove the recovery in the euro zone’s fourth-biggest economy despite weak internal demand, the National Statistics Institute said in a statement.

30 Oct 2013 - 6:24pm

Violent clashes as Greeks protest against far-right Golden Dawn

Police clashed with protesters in Athens at the end of a huge march sparked by the murder of an anti-fascist musician allegedly at the hands of a self-confessed neo-Nazi.

26 Sep 2013 - 9:16pm

Austerity will put 25m Europeans into poverty, says Oxfam

Europe faces a "lost decade", with the number of people trapped in poverty across the continent set to rise by up to 25 million by 2025 unless austerity policies are reversed, according to a damning new report from aid agency Oxfam.

13 Sep 2013 - 3:58am

Financial crisis drives up Greek suicide rate

Suicides increased by 45 per cent during the first four years of Greece's financial crisis, a mental health aid group said. It warned there are indications of a further "very large rise" over the past two years.

12 Sep 2013 - 2:42am

Crisis zone where Spanish villagers enter lottery to win a job

The day Spaniard Josi Antonio Pirez Zembrana, 32, won the lottery, he did not jump for joy. He was pleased, of course. But around him were so many people from his village of Alameda in southern Spain who could have used the prize too.

12 Sep 2013 - 3:04am

Euro zone loan slump puts onus on ECB to keep rates low

Lending to the euro zone’s private sector contracted further in July, dragging on the euro zone’s nascent economic recovery and keeping up pressure on the European Central Bank to maintain its expansive monetary policy.

28 Aug 2013 - 11:48pm

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