21 November 2011
Guide to the European Sovereign Debt Crisis
Posted In: Economics, Fixed Income, Risk Management
Given the many moving pieces, it can be difficult for investors to keep track of the various elements of the European sovereign debt crisis. Here then is a multipart guide for understanding the origins, causes, and unresolved issues of the ongoing economic emergency in the eurozone. Each of the links below provides a more detailed discussion of the underlying issues.
- Overview, Analysis, and Timeline of Major Events: Most commentators trace the origins of the European sovereign debt crisis to 5 November 2009, when Greece disclosed that its budget deficit was 12.7% of gross domestic product (GDP) — more than twice what had previously been announced. However, the real origins of the crisis lie in the structures that govern Europe’s institutions.
- Key Players In the European Sovereign Debt Crisis: Complicating matters in resolving the European sovereign debt crisis have been the large number of players, each of whom has a stake in the outcome of the crisis. This section provides an overview of the key players — from institutions to individual personalities — who are struggling to address the crisis.
- Pertinent Statistics: It is one thing to talk about the European sovereign debt crisis and its many details — and another to look at the statistics that are germane to understanding the crisis. Here are select data that help shape the story and provide context for understanding the key issues.
- Latest Plan for Resolving the European Sovereign Debt Crisis: On 27 October 2011, after months of discord, European leaders ironed out a plan to address the escalating European sovereign debt crisis. This post provides an overview of what exactly that plan entails.
- Littany of Unresolved Issues Looms Large: A list — comprehensive but most certainly not complete — of unresolved issues in the European sovereign debt crisis.
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