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1、小组成员:EuropeandebtcrisisContentsCrisisdefinitionandprogressCausesofdebtcrisisTheconsequencesofdebtcrisisThesolutiontocrisisConclusionThedefinitionofEuropeandebtcrisisEuropeandebtcrisismeanstheEuropeansovereigndebtcrisisSovereigndebtdefault:Adebtoccurswh
2、enacountrycannotrepayitssovereigndebt.ProcessofDebtcrisisinEuropeStartTheworld'sthreemajorratingcompaniesdowngradedGreece'ssovereignrating,thenthedebtcrisisintensifiedinGreeceDevelopingBelgium,Spain,otherEuropeancountriesbegantofallintocrisisandnoncris
3、isinGreecehasbeentheprotagonist.SpreadGermanyandotherleadingeuro-zonecountrieshavebeguntofeeltheimpactofthecrisis,theeuroisfacingthemostseveretestsincetheestablishmentUpgradeEUfinanceministersreachedatotalofupto750billionEurosofstabilizationmechanismto
4、preventthecrisisfromspreading.Causesofdebtcrisis1.ExternalcausesThefinancialleverageusedbytheenterpriseleadstodebtburdenintheGreekinthefinancialcrisis.Ratingagenciesarenolongersubjecttowesterncountriesrestraintandadjusttheratingproperly.Causesofdebtcri
5、sisTheentityeconomyishollowandtheeconomicdevelopmentisfragile.TheagingtrendintheGreekisacceleratedThesocialwelfaresystemissowell,soFiscalexpenditureistoohugetorepaythedebtintheGreek.InternalcausesIndustrialstructurePopulationstructureSocialwelfaresyste
6、mFirst,thesovereigndebtproblemisactuallyacontinuationofthefinancialcrisisanddeepening.Second,thedualityoftheeuroareafiscalandmonetarypolicyhasledtosovereigndebtproblems.Third,theeuro-zonecountriesiscausedbyinternalimbalancestheunderlyingcausesofdebtpro
7、blems.Fourth,theEU'sexternaldebtcrisis,structuralcontradictionsarefactorsinthesystem.DetailsOntheotherhand,forcedthepressureofpoliticalpartiesandtradeunions,Greeceandothercountriesovermanyyearstoraisewagesandpensionsandothersocialwelfarelevel,withtheac
8、celeratedagingofthepopulation,notonlytothegovernmentahugefinancialpressure,butalsotoimprovetheunitlaborcosts,sothatleadingtotheaccumulationoflonggovernmentdebtandexternaldebtcontinuestoclimb.Finally,internationalspeculatorsspeculationac