The causes of the euro debt crisis and the consequences in the member states- focusing on Ireland and Belgium
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| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | Gazdasági válság Írország Belgium Európai Unió |
| Online Access: | http://dolgozattar.uni-bge.hu/13258 |
| Kivonat: | In my thesis I have analysed the causes and the consequences of the euro debt crisis that hit Europe in 2008 and in the following years. Particularly I analysed the pre-crisis time, the crisis and its consequences in two countries in Belgium and in Ireland. Despite the fact that they are on a quite similar development level in economic terms, the Belgian economy was in a quite stable situation during the crisis in contrast with Ireland, which needed bailout packages to avoid the bankruptcy. There is a deep analysis about the pre-crisis time of the 2008 world financial crisis and I tried to enlighten the typical features and signs of the pre-crisis time. The long-lasting low interest rates that encouraged investors to take high risks, the high credit borrowings and the rapid boost of the housing market were all signs for an economic shock. The actuality of this topic is that almost 10 years after the outbreak of the crisis there are several similar processes happening nowadays in the world economy as it happened before the financial crisis broke out in 2008. Discovering typical issues made in the past gives the opportunity to make precautionary measures to avoid future economic shocks. After the introduction of the euro the market economies were not able to control the deep integration of the global capital market which led to several critical issues due to the lack of institutional restrictions or controls on the countries. |
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