ters reached a total of up to 750 billion euros of stabilization mechanism to prevent the crisis from spreading.
The world's three major rating companies downgraded Greece's sovereign rating, then the debt crisis intensified in Greece
• Member States (17): Germany, France, Italy, Netherlands, Belgium, Luxembourg, Ireland, Greece, Spain, Portugal, Austria, Finland, Slovenia, Cyprus, Malta, Slovakia, Estonia
Incentives
December 2009 the three largest credit rating companies downgraded Greece's sovereign rating to a financial crisis, the euro fell sharply against the dollar.
● First, the sovereign debt problem is actually a continuation of the financial crisis and deepening. In general, the economic boom, the private sector's debt is relatively high, and each crisis, the government's budget deficit will deteriorate. U.S. subprime mortgage crisis triggered a global economic recession, but also ignited a calm sea in Europe, hidden under a huge debt risk. Systemic risk countries to resist the economic rescue spending a huge part of the state fiscal years of lax discipline, poor control of the deficit, making the 16-nation euro area average deficit for the current level of more than 6%, high budget deficit and national debt exceeded the direct cause of this serious times the debt crisis
