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The Euro Zone Sovereign Debt Crisis and Potential Solutions

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  • Simona Moagar Poladian

Abstract

The debt sustainability is a challenging problem to some Eurozone countries, being a reflection of a high rate of unbalanced financial sector. The public debt crisis has already delayed the economic growth of certain countries and will cause unpleasant effects in the near future. Programmes of fiscal consolidation have been applied in each of Eurozone countries, focussed primarily on the banking system in order to prevent banks from bankruptcy. The main objective of the European Commission is to strengthen the trust in the European banking system. The proposals have been oriented toward increasing banking capital on future in concordance to Basel III agreement. By creating of a new governance framework and a new Single Regulatory Act for the whole European banking system it would stimulate the consolidation of the whole banking system from EU.

Suggested Citation

  • Simona Moagar Poladian, 2011. "The Euro Zone Sovereign Debt Crisis and Potential Solutions," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 3(3), September.
    • Handle: RePEc:iem:journl:v:3:y:2011:i:3:id:2822000008752023
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    File URL: http://www.iem.ro/rem/index.php/REM/article/view/65/51
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    More about this item

    Keywords

    Sovereign Debt Crisis; Eurozone; banking system; European Commission; GDP;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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