The European Economic Crisis

The genesis of the European economic crises emerged out of the collapsed of the subprime mortgage crisis in the US financial market. Europe financial market was affected through the securitization of these mortgage debts, which was package and sold to the European banks by the financial institutions in the US. The connectivity of the global financial markets is so interwoven that a financial crisis in a large and important economy can easily spread to neighbouring countries. The first sign of problem in Europe surfaced in the euro zone peripheral economy of Ireland. It had to impose draconian

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