eurozone

WELCOME: 

WELCOME

EUROPEAN UNION: 

EUROPEAN UNION The European Union is an economic and political union or a confederation of 27 member states which are located primarily in Europe

A Member State: 

A Member State A member state of the European Union is a state that is party to treaties of the European Union (EU) and has thereby undertaken the privileges and obligations that EU membership entails. Unlike membership of an international organization, being an EU member state places a country under binding laws in exchange for representation in the EU's legislative and judicial institutions.

Eurozone: 

E urozone The eurozone officially called the euro area , is an economic and monetary union (EMU) of 17 European Union (EU) member states that have adopted the euro (€) as their common currency and sole legal tender. The eurozone currently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain . Most other EU states are obliged to join once they meet the criteria to do so.

European Central Bank: 

European Central Bank Monetary policy of the zone is the responsibility of the European Central Bank (ECB) which is governed by a president and a board of the heads of national central banks. The principal task of the ECB is to keep inflation under control. Though there is no common representation, governance or fiscal policy for the currency union

PowerPoint Presentation: 

Since the late-2000s financial crisis, the eurozone has established and used provisions for granting emergency loans to member states in return for the enactment of economic reforms. The eurozone has also enacted some limited fiscal integration, for example in peer review of each other's national budgets.

DEBT CRISIS: 

DEBT CRISIS From late 2009, fears of a sovereign debt crisis developed among investors concerning rising government debt levels across the globe together with a wave of downgrading of government debt of certain European states. Concerns intensified early 2010 and thereafter making it difficult or impossible for Greece, Ireland and Portugal to re-finance their debts.

REASONS: 

REASONS Rising government debt levels Trade imbalances Monetary policy inflexibility Loss of confidence

SOLUTIONS: 

SOLUTIONS EU emergency measures ECB interventions Reform and recovery

EU emergency measures : 

EU emergency measures European Financial Stability Facility (EFSF) European Financial Stabilization Mechanism (EFSM) Brussels agreement and aftermath

ECB interventions : 

ECB interventions Resignations Concerted action of several central banks

Reform and recovery : 

Reform and recovery

Proposed long-term solutions : 

Proposed long-term solutions European fiscal union and revision of the Lisbon Treaty Eurobonds European Stability Mechanism (ESM) Address current account imbalances European Monetary Fund Speculation of the breakup of the Eurozone

Euro zone crisis impact on India: 

Euro zone crisis impact on India