Euro area crisis

Multi-year debt crisis in multiple EU countries, 2009–2010

The euro area crisis, also known as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a debt crisis and financial crisis in the European Union (EU) that occurred between 2009 and 2018. The eurozone member states of Greece, Portugal, Ireland, and Cyprus could no longer adequately manage their debt (ie. unable to repay or refinance their government debt) and could not bail out their national banks.

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