THE EUROPEAN DEBT CRISIS EBOOK!
A timeline of the debt crisis of the eurozone, from the creation of the currency in On 11 February, the EU promises to act over Greek debts and tells Greece to. Here is a list of questions answered to help familiarize you with the basics of, and an outlook for, the European debt crisis. Despite years of attempted austerity and economic reforms, the European Union is still facing a crisis due to the debt that Greece has.
|Published:||18 January 2016|
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European debt crisis: It's not just Greece that's drowning in debt
Greek general government debt Debt levels across the eurozone were The government orders banks that have been the european debt crisis since March 16, to remain closed.
Approximately 10, people may lose their jobs. March 25, - Cyprus' Ministry of Finance announces that banks will remain closed until March 28th, to guard against people rushing to withdraw their money. March 28, - Banks reopen.
April 30, - The parliament votes to approve the EU bailout. March 7, - Cyprus exits the bailout program.
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January 1, - Greece drops its currency, the drachma, in order to join the EU "eurozone. In order to meet the EU's standards, Greece makes deep cuts in public spending.
November 15, - Greece admits that it gave misleading information to gain admittance to the eurozone. Greece has not met those criteria since October 4, - George Papandreou wins election as prime minister. Prime Minister Papandreou says that the budget deficit will be December 17, - Thousands of union workers go on strike to protest cuts in government spending.
January 13, - The European Commission condemns Greece for giving false data on its finances and says the deficit and debt may be higher the european debt crisis the figures released in November February 2, - Prime Minister Papandreou makes a televised address, appealing to Greek citizens to support austerity measures.
February 10, - Public workers in Greece strike in protest against new austerity measures. March 3, - Protests break out across the country. The government announces plans to lower the deficit by cutting public employees' salaries and raising taxes. Clashes erupt between police and approximately 20, protesters in Athens.
June 4, - Protests break out in Athens after Prime Minister Papandreou announces large cuts in public-sector the european debt crisis.
European Debt Crisis Fast Facts - CNN
June 15, - Protesters hit the Greek Ministry of Finance with gasoline bombs. July 21, - European leaders agree to a second bailout package. October 2, - The Greek cabinet announces that it adopted a draft budget forbut will miss key deficit targets. October- Tens of thousands of the european debt crisis protest against new austerity measures being considered by Greece's Parliament.
At least one person is killed.
November 11, - Lucas Papademos, a former professor, banker, and ECB vice-president, is sworn-in as prime minister of Greece. As lawmakers debate, police turn tear gas and stun grenades on protesters outside Parliament.