Greek Economic Crisis
Causes:
- Private debt of individuals and corporation.
- The introduction of the euro which led to exceedingly low interest rates.
- Rise in suicides and deaths.
- Austerity policies have been enacted.
- Loss of homes for many citizens.
Spanish Financial Crisis
Causes:
- The housing bubble was resulted from the rapid growth of prices of real estate.
- The Spanish GDP grew too quickly, resulting in a rapid decrease.
- There were high unemployment rates.
- Financial market reforms, fiscal measures, and labor market reforms were all enacted.
The Italian Banking Sector
Causes:
- They are deep in non-performing loans.
- The interest rates are falling.
- People can't pay back their loans.
- It threatens Italy's position in Eurozone.
- Shares have dropped 75%.
- There is a loss of bonds.
- Credit ratings dropped.
- Economic slowing occurs.