Eurozone Debt Crisis

This research paper focuses on the Eurozone financial debt crisis also known as Eurozone sovereign debt crisis 2009. This financial crisis did not happen overnight but in fact it is related to chain of events, which will be shortly explained in the following passages. During this crisis, many of the European financial institutions collapsed in countries particularly in the countries that were grouped under the acronym “PIIGS” (Portugal, Italy, Ireland, Greece and Spain).
Eurozone debt crisis was preceded by global economic crisis of 2008, which was started in USA when the housing bubble of US got busted, and many of the major US banks filed for bankruptcy, which caused financial unrest in all over the world, and many major financial institutions