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The euro zone`s debt crisis
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The euro zone`s debt crisis

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  • 1. The euro zone`s debt crisis Liis Post
  • 2. Outline
    • Panic about the Greek government`s ability to repay its creditors
    • Its infecting influence to the other euro-area countries` sovereign debt
      • Portugal
      • Spain
      • Italy
      • Ireland
  • 3. Greece
    • Sovereign-debt crisis boiled over
    • Debts too great
    • Financial panic in Europe
    • Around €213 billion-worth of Greek government bonds
    • Foreign banks` lending €164 billion
    • Public debt unclear
  • 4. Portugal
    • Budget deficit 9.3% of GDP
    • Public debt 77% of GDP
    • Common weaknesses with Greece:
      • Small economy
      • Competitiveness
      • Foreign debts run up
    • Debt €198 billion
  • 5. Spain
    • Most at risk
    • Dependence on foreign finance
    • Public debt 53% of GDP
  • 6. Italy and Ireland
    • Italy – can hope to rely on domestic savers
    • Ireland – less prone to overseas finance
  • 7. Conclusion
    • IMF reckons that this year
      • America’s net public debt – 70% of GDP
      • euro-zone `s net public debt – 68 % of GDP
  • 8. Read more
    • From The Economist
    • April 29th 2010
    • http://www.economist.com/displayStory.cfm?story_id=16009119
  • 9. Thank you for your attention!