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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.
- Costa’s Socialist Party (PS) took 37 per cent of the vote, with watchers keen to see who he chooses as allies to stay in power
Premier Li Keqiang says growing platform is an important ‘supplement’ to Beijing’s relationship with the European Union.
Premier Li Keqiang says growing platform is an important ‘supplement’ to Beijing’s relationship with the European Union.
The EU economy is facing a raft of issues, including Brexit, the transition of leadership in Germany, the violent ‘yellow vest’ protests in France and widespread populism.
The EU economy is facing a raft of issues, including Brexit, the transition of leadership in Germany, the violent ‘yellow vest’ protests in France and widespread populism.
The blow of the UK leaving the union will be considerable, but it is only an exacerbating factor. In a European parliamentary election year, economic stagnation and a turn towards populist politics are far more worrisome.
The blow of the UK leaving the union will be considerable, but it is only an exacerbating factor. In a European parliamentary election year, economic stagnation and a turn towards populist politics are far more worrisome.
The Greek Prime Minister quits after seven months in office, paving the way for a snap election that he hopes will strengthen his hold on power.
The Greek Prime Minister quits after seven months in office, paving the way for a snap election that he hopes will strengthen his hold on power.