Europe, similarly to other parts of the globe, was hit by the economic crisis in 2007. The global financial crisis, and Europe’s, was severe in terms of its size and extent. Credit growth and low risk premiums were among other features that paved the way for the crisis. Liquidity and the bubbled real estate sector also contributed to the crisis. The question is that whether the European governments are able to perform socio-economic development and structural reforms within the recession periods and their deteriorating fiscal positions.
This paper explores the financial options for the European governments, solutions for the heavily indebted governments, and a recovery for the situation. Methodology of this paper is qualitative utilizing answers for the W5’s questions.
II. Europe’s Financial Crisis
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