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분야
hwp1. What is euro zone ?
2. The problems of PIIGS
main subject
3. The Procedure of euro zone crisis
4. Greece crisis situation and support plan
5. Will Portugal and Spain be a second greece ?
conclusion
6. The future of the euro zone
PIGS, the original acronym, referred in 1997 to Portugal, Italy, Greece and Spain. Similar terms, such as "the Olive Belt" or "Club Med", have also been used for the same or similar groupings of countries in southern Europe. The term became popular again during the financial crisis of 2007–2010 when the economies of Portugal, Ireland, Greece and Spain were seen as especially vulnerable due to high or rising government debt levels and a high government deficits relative to annual GDP.
Government surplus/deficit, 2002–2010
Government surplus/deficit, 2002–2010
MAIN SUBJECT
3. The Procedure of euro zone crisis
After introducing euro, sixteen euro zone country's trade balance is generally deficit except Germany. Germany chooses euro instead of german mark, then they get exchange rate devaluation. But other countries currency, especially club med, is appreciated. however they obtain low interest rate, so they can expand their consume from debt.
-Wikipedia - 'euro zone' and 'PIIGS'
-Naver blog - 상승미소의 블로그 ‘ 유로화의 한계, 독일의 선택은’, ‘지표 확인, 문제는 스페인’, ‘그리스 & 포르투갈’
-Naver blog - 에리우스의 블로그 '만기 2주전...유럽 경제 위기는 구조적인 문제로 타오르고... 시장은 거대한 변동성에 다시금 노출될 조짐이 나오고?'
-Naver blog - Phillip & Company '[한국경제]위기의 유로존'
-The Korea herald ‘Greece faces ‘unprecedented’ cuts as rescue nears’,
