Debt crisis

Debt crisis is the general term for a proliferation of massive public debt relative to tax revenues, especially in reference to Latin American countries during the 1980s, and the United States and the European Union since the mid-2000s. As well as the Chinese debt crises of 2015.^{[1][2][3][4] [5]}

Current and recent debt crises

Europe

European debt crisis

The European debt crisis is a crisis affecting several eurozone countries since the end of 2009.^[6][7] Member states affected by this crisis were unable to repay their government debt or to bailout indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank).^[8] The causes of the crisis included high-risk lending and borrowing practices, burst real estate bubbles, and hefty deficit spending.^[9] As a result, investors have reduced their exposure to European investment products, and the value of the Euro has decreased.^[10]

Other European debt crisises

• Greek government debt crisis
• Irish financial crisis
• Portuguese economic crisis

Latin America

• Argentine debt restructuring
• Latin American debt crisis

North America

• United States debt-ceiling crisis of 2011
• United States debt-ceiling crisis of 2013

See also

• Debt
• Debt of developing countries
• Government debt
• List of countries by credit rating
• List of countries by net international investment position
• List of countries by public debt
• Monetary sovereignty
• Sovereign default
• State (polity)
• Tax

References

1. "Europe Banks Selling Sovereign Bonds May Worsen Debt Crisis" - SFGate
2. "Who is Handling Debt Crisis Better, United States or Europe" - US News
3. "Europe's Web of Debt" by Nelson D. Schwartz, New York Times
4. "How's the Argentina Recovery Coming Along?" by Tyler Cowen
5. http://fortune.com/2015/07/07/china-market-greece-debt/
6. "Timeline: The unfolding eurozone crisis". BBC News. Retrieved 6 March 2015.
7. Blundell-Wignall, Adrian (2011). "Solving the Financial and Sovereign Debt crisis" (PDF). Organisation for Economic Co-operation and Development. Retrieved 6 March 2015.
8. "Troika 'governor' of European 'colonies': Lawmakers fed up with debt crisis tactics". RT. 27 February 2014. Retrieved 6 March 2015.
9. Brown, Mark; Chambers, Alex (September 2005). "How Europe's governments have enronized their debts". Euromoney. Retrieved 6 March 2015.
10. Johnson, Steve (1 March 2015). "Investors slash exposure to the euro". Financial Times. Retrieved 6 March 2015. (subscription required (help)).