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legislation would give member states the power to impose losses, resulting from a bank failure, on the bondholders to minimize costs for taxpayers. The proposal is part of a new scheme in which banks will be compelled to "bail-in" their creditors whenever they fail, the basic aim being to prevent taxpayer-funded bailouts in the future. The public authorities would also be given powers to replace the management teams in banks even before the lender fails. Each institution would also be obliged to set aside at least one per cent of the deposits covered by their national guarantees for a special fund to finance the resolution of banking crisis starting in 2018.
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surpluses exceeding 2 per cent of gross domestic product – starting now – just to bring the debt-to-GDP ratio back to its pre-crisis level". The same authors found in a previous study that increased financial burden imposed by aging populations and lower growth makes it unlikely that indebted economies can grow out of their debt problem if only one of the following three conditions is met:
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173:, former president of the European Central Bank. Control, including requirements that taxes be raised or budgets cut, would be exercised only when fiscal imbalances developed. This proposal is similar to contemporary calls by Angela Merkel for increased political and fiscal union which would "allow Europe oversight possibilities."
242:(EMF), which could provide governments with fixed interest rate Eurobonds at a rate slightly below medium-term economic growth (in nominal terms). These bonds would not be tradable but could be held by investors with the EMF and liquidated at any time. Given the backing of all eurozone countries and the ECB "the
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issued jointly by the 17 euro nations would be an effective way to tackle the financial crisis. Using the term "stability bonds", Jose Manuel
Barroso insisted that any such plan would have to be matched by tight fiscal surveillance and economic policy coordination as an essential counterpart so as to
132:
The interconnection in the global financial system means that if one nation defaults on its sovereign debt or enters into recession putting some of the external private debt at risk, the banking systems of creditor nations face losses. For example, in
October 2011, Italian borrowers owed French banks
879:"We need not just a currency union; we also need a so-called fiscal union, more common budget policies. And we need above all a political union. That means that we must, step by step as things go forward, give up more powers to Europe as well and allow Europe oversight possibilities." (Angela Merkel)
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countries nearly quadrupled between 1980 and 2010, and will likely continue to grow, reaching between 250% (for Italy) and about 600% (for Japan) by 2040. A BIS study released in June 2012 warns that budgets of most advanced economies, excluding interest payments, "would need 20 consecutive years of
250:
backs government bonds to an unlimited extent." To ensure fiscal discipline despite lack of market pressure, the EMF would operate according to strict rules, providing funds only to countries that meet fiscal and macroeconomic criteria. Governments lacking sound financial policies would be forced to
197:
On 6 June 2012, the
European Commission adopted a legislative proposal for a harmonized bank recovery and resolution mechanism. The proposed framework sets out the necessary steps and powers to ensure that bank failures across the EU are managed in a way which avoids financial instability. The new
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To reach sustainable levels the
Eurozone must reduce its overall debt level by €6.1 trillion. According to BCG this could be financed by a one-time wealth tax of between 11 and 30 percent for most countries, apart from the crisis countries (particularly Ireland) where a write-off would have to be
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becomes inevitable. To prevent a vicious upward debt spiral from gaining momentum the authors urge policy makers to "act quickly and decisively" and aim for an overall debt level well below 180 percent for the private and government sector. This number is based on the assumption that governments,
99:
One narrative describing the causes of the crisis, begins with the significant increase in savings available for investment during the 2000–2007 period, when the global pool of fixed-income securities increased from approximately $ 36 trillion in 2000 to $ 70 trillion by 2007. This "Giant Pool of
254:
The econometric analysis suggests that "If the short-term and long- term interest rates in the euro area were stabilized at 1.5% and 3%, respectively, aggregate output (GDP) in the euro area would be 5 percentage points above baseline in 2015". At the same time sovereign debt levels would be
120:
How each
European country involved in this crisis borrowed and invested the money varies. For example, Ireland's banks lent the money to property developers, generating a massive property bubble. When the bubble burst, Ireland's government and taxpayers assumed private debts. In Greece, the
212:
A growing number of investors and economists say
Eurobonds would be the best way of solving a debt crisis, though their introduction matched by tight financial and budgetary coordination may well require changes in EU treaties. On 21 November 2011, the European Commission suggested that
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European banks are estimated to have incurred losses approaching €1 trillion between the outbreak of the financial crisis in 2007 and 2010. The
European Commission approved some €4.5 trillion in state aid for banks between October 2008 and October 2011, a sum which includes the value of
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nonfinancial corporations, and private households can each sustain a debt load of 60 percent of GDP, at an interest rate of 5 percent and a nominal economic growth rate of 3 percent per year. Lower interest rates and/or higher growth would help reduce the debt burden further.
53:, without the assistance of third parties. The solutions range from tighter fiscal union, the issuing of Eurozone bonds to debt write-offs, each of which has both financial and political implications, meaning no solution has found favour with all parties involved.
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substantially higher. The authors admit that such programs would be "drastic", "unpopular" and "require broad political coordination and leadership" but they maintain that the longer politicians and central bankers wait, the more necessary such a step will be.
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Greece hid its growing debt and deceived EU officials with the help of derivatives designed by major banks. Although some financial institutions clearly profited from the growing Greek government debt in the short run, there was a long lead-up to the crisis.
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Germany remains largely opposed at least in the short term to a collective takeover of the debt of states that have run excessive budget deficits and borrowed excessively over the past years, saying this could substantially raise the country's liabilities.
141:(CDS) that result in payment should default occur on a particular debt instrument (including government issued bonds). But, since multiple CDSs can be purchased on the same security, it is unclear what exposure each country's banking system now has to CDS.
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government increased its commitments to public workers in the form of extremely generous wage and pension benefits, with the former doubling in real terms over 10 years. Iceland's banking system grew enormously, creating debts to global investors (
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below the baseline scenario with market based interest levels. Furthermore, banks would no longer be able to unduly benefit from intermediary profits by borrowing from the ECB at low rates and investing in government bonds at high rates.
112:
after bubble across the globe. While these bubbles have burst, causing asset prices (e.g., housing and commercial property) to decline, the liabilities owed to global investors remain at full price, generating questions regarding the
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has called for a 30-year debt-reduction plan, similar to the one
Germany used after World War II to share the burden of reconstruction and development. Similar calls have been made by political parties in Germany including the
133:$ 366 billion (net). Should Italy be unable to finance itself, the French banking system and economy could come under significant pressure, which in turn would affect France's creditors and so on. This is referred to as
96:; fiscal policy choices related to government revenues and expenses; and approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses.
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The temptation offered by such readily available savings overwhelmed the policy and regulatory control mechanisms in country after country, as lenders and borrowers put these savings to use, generating
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has been disputed due to major calculation errors. In fact, the average GDP growth at public debt/GDP ratios over 90 percent is not dramatically different than when debt/GDP ratios are lower.
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Money" increased as savings from high-growth developing nations entered global capital markets. Investors searching for higher yields than those offered by
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In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)
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Increased
European integration giving a central body increased control over the budgets of member states was proposed on 14 June 2012 by
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A number of different long-term proposals have been put forward by various parties to deal with the
Eurozone crises, these include;
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137:. Another factor contributing to interconnection is the concept of debt protection. Institutions entered into contracts called
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2013:
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318:(BCG) added to the original finding that if the overall debt load continues to grow faster than the economy, then large-scale
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taxpayer-funded recapitalizations and public guarantees on banking debts. This has prompted some economists such as
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The World Bank's Chief Economist EMEA, Indermit Gil, about potential ramifications, CFO Insight Magazine, July 2012
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More Pain, No Gain for Greece: Is the Euro Worth the Costs of Pro-Cyclical Fiscal Policy and Internal Devaluation?
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84:; easy credit conditions during the 2002–08 period that encouraged high-risk lending and borrowing practices; the
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Overall debt levels in 2009 and write-offs necessary in the Eurozone, UK and U.S. to reach sustainable grounds.
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The solutions attempt to address the difficulty some countries in the eurozone experienced trying to repay or
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609:. Europe; Germany; Greece; France; Ireland; Spain; Portugal; Italy; Great Britain; United States; Japan
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1401:"Leaving the Euro: A Practical Guide" by Roger Bootle, winner of the 2012 Wolfson Economics Prize
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89:
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The European sovereign debt crisis resulted from a combination of complex factors, including the
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1192:"Does High Public Debt Consistently Stifle Economic Growth? A Critique of Reinhart and Rogoff"
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significantly lower with, e.g., Greece's debt level falling below 110% of GDP, more than 40
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would achieve a similarly strong position vis-a-vis financial investors as the US where the
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that took place in the European Union from 2009 till the late 2010s, including risks to
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122:
1166:"The Future of Public Debt: Prospects and Implications" (BIS Working Paper No. 300)"
251:
rely on traditional (national) governmental bonds with less favorable market rates.
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to note that Europe is not suffering from a sovereign debt crisis but rather from a
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524:"NPR-Michael Lewis-How the Financial Crisis Created a New Third World-October 2011"
219:
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715:
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350:
1389:
Michael Lewis-How the Financial Crisis Created a New Third World-October 2011
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3991:
2515:
2457:
1368:
Stefan Collignon: Democratic requirements for a European Economic Government
1223:
303:
The first condition, which was suggested by an influential paper written by
46:
3465:
1078:"The European Monetary Fund: A systemic problem needs a systemic solution"
657:
Story, Louise; Landon Thomas Jr.; Schwartz, Nelson D. (14 February 2010).
368:
4690:
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4432:
2801:
2462:
1854:
1109:
Cecchetti, Stephen G; Mohanty, M S; Zampolli, Fabrizio (September 2011).
628:
114:
35:
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2029:
1165:
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1164:
Cecchetti, Stephen G; Mohanty, M S; Zampolli, Fabrizio (March 2010).
574:
Feaster, Seth W.; Schwartz, Nelson D.; Kuntz, Tom (22 October 2011).
1326:– Changing the Debate on Europe – Moving Beyond Conventional Wisdoms
892:"EU Commission unveils proposals on bondholder 'bail-ins' for banks"
603:"NYT-It's All Connected-An Overview of the Euro Crisis-October 2011"
605:[alternate title: "Touring the Ruins of the Old Economy"].
2582:
1416:
1272:"Vermögensabgabe: Wie die Grünen 100 Milliarden einsammeln wollen"
1051:
267:
76:
of Eurozone, Germany and crisis countries compared to Eurozone GDP
68:
60:
17:
685:"Merkel Slams Euro Speculation, Warns of 'Resentment' (Update 1)"
4437:
3041:
2952:
2914:
2427:
1224:"Back to Mesopotamia?: The Looming Threat of Debt Restructuring"
281:
238:
published an article that suggests transforming the EFSF into a
39:
3469:
2400:
2033:
1839:
List of banks acquired or bankrupted during the Great Recession
1673:
1420:
1190:
Herndon, Thomas; Ash, Michael; Pollin, Robert (15 April 2013).
949:"New crisis management measures to avoid future bank bail-outs"
2396:
1343:
576:"NYT-It's All Connected-A Spectators Guide to the Euro Crisis"
126:
65:
Public debt $ and %GDP (2010) for selected European countries
1353:
Diagram of Interlocking Debt Positions of European Countries
601:
XAQUÍN, G.V.; McLean, Alan; Tse, Archie (22 October 2011).
4615:
European Judicial Network in civil and commercial matters
1705:
Dodd–Frank Wall Street Reform and Consumer Protection Act
1290:"DIE LINKE: Vermögensabgabe ist die beste Schuldenbremse"
1083:. Austrian Institute of Economic Research. Archived from
1000:"Europe Agrees to Basics of Plan to Resolve Euro Crisis"
1140:"Global economy is stuck in a vicious cycle, warns BIS"
3605:
International Authority for the Ruhr (1949–1951)
1816:
National fiscal policy response to the Great Recession
1111:"The real effects of debt (BIS Working Paper No. 352)"
809:"Everything flows? The future role of monetary policy"
659:"Wall St. Helped to Mask Debt Fueling Europe's Crisis"
289:
government debt is more than 80 to 100 percent of GDP;
2350:
2011 Tōhoku earthquake and tsunami stock market crash
292:
non-financial corporate debt is more than 90 percent;
3663:
European Monetary Cooperation Fund (1973–1994)
1370:
Friedrich-Ebert-Stiftung, December 2010 (PDF 625 KB)
1048:"EU's Barroso wants tight euro zone budgets control"
414:
List of acronyms associated with the eurozone crisis
28:
proposed long-term solutions for the Eurozone crisis
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European Financial Stability Mechanism (2010–
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European Coal and Steel Community (1951–2002)
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in English (2012) – Italian (2012) – Spanish (2011)
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3686:European Financial Stability Facility (2010–
1935:(Europe, Middle East and North Africa, Asia; 2009)
1411:The Eurozone Crisis – Can Austerity Foster Growth?
1218:
1216:
1197:. PERI Policial Research Institute. Archived from
1022:"EU's Barroso: Will present options on euro bonds"
424:List of people associated with the eurozone crisis
330:Instead of a one-time write-off, German economist
2443:Economic and Monetary Union of the European Union
1406:"Breaking the Deadlock: A Path Out of the Crisis"
393:Crisis situations and unrest in Europe since 2000
2075:Early stock market crashes in the Dutch Republic
5059:Largest cities by population within city limits
1071:
1069:
522:Heard on Fresh Air from WHYY (4 October 2011).
177:European bank recovery and resolution authority
1786:American Recovery and Reinvestment Act of 2009
1651:Office of Federal Housing Enterprise Oversight
652:
650:
629:"The Economist-No Big Bazooka-29 October 2011"
22:Spread of interest rates in Eurozone countries
3668:European Monetary Institute (1994–1998)
3623:European Economic Community (1958–1993)
3481:
2412:
2045:
1432:
280:, the combined private and public debt of 18
264:Drastic debt write-off financed by wealth tax
8:
3641:European Atomic Energy Community (est. 1958)
1710:Emergency Economic Stabilization Act of 2008
442:
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1278:on 22 January 2011 – via www.faz.net.
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4342:Mechanism for Cooperation and Verification
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3407:European Financial Stabilisation Mechanism
3147:
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2405:
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1801:Fraud Enforcement and Recovery Act of 2009
1740:
1725:Term Asset-Backed Securities Loan Facility
1670:
1439:
1425:
1417:
785:Ζωώδη Ένστικτα και Οικονομικές Καταστροφές
117:of governments and their banking systems.
2365:2015–2016 Chinese stock market turbulence
1981:Effects of the Great Recession on museums
1811:Housing and Economic Recovery Act of 2008
1695:China–Japan–South Korea trilateral summit
1076:Schulmeister, Stephan (20 October 2011).
920:"Zweifel an echter Bankenunion in Europa"
835:"Bundesbank head backs fiscal union poll"
450:Boomerang: Travels in the New Third World
4796:European Structural and Investment Funds
4718:European System of Financial Supervision
3583:Western European Union (1954–2011)
1675:Government policy and spending responses
1641:Government National Mortgage Association
1395:This American Life – Continental Breakup
222:and ensure sustainable public finances.
1735:2008 United Kingdom bank rescue package
1383:Center for Economic and Policy Research
434:
236:Austrian Institute of Economic Research
169:, expanding on ideas first proposed by
4260:European Economic and Social Committee
4069:Court of Justice of the European Union
3593:European Communities (1967–2009)
943:
941:
761:"Europe's next bankruptcy candidates?"
501:"NPR-The Giant Pool of Money-May 2008"
476:"Touring the Ruins of the Old Economy"
4897:Stabilisation and Association Process
4594:Area of freedom, security and justice
3402:European Financial Stability Facility
2593:Euro interbank offered rate (Euribor)
1720:Temporary Liquidity Guarantee Program
1690:Banking (Special Provisions) Act 2008
1611:Federal Deposit Insurance Corporation
1028:. Associated Press. 14 September 2011
978:"Barroso to table eurobond blueprint"
714:Knight, Laurence (22 December 2010).
92:that subsequently burst; the 2007–09
7:
4892:European Union Association Agreement
3628:European Community (1993–2009)
2794:Coins by country with minting rights
1606:Consumer Financial Protection Bureau
1002:. Associated Press. 21 November 2011
980:. Associated Press. 17 November 2011
474:Lewis, Michael (26 September 2011).
388:2008–2011 Icelandic financial crisis
4221:European Data Protection Supervisor
3523:Ideas of European unity before 1948
2976:French Southern and Antarctic Lands
1896:Collateralized mortgage obligations
1376:Friedrich-Ebert-Stiftung, Juni 2011
1374:Rainer Lenz: Crisis in the Eurozone
4917:EU Strategy for the South Caucasus
4657:Common Security and Defence Policy
4652:Common Foreign and Security Policy
3205:European Monetary Cooperation Fund
2603:European payments initiative (EPI)
1170:Bank for International Settlements
1115:Bank for International Settlements
691:. 23 February 2010. Archived from
419:List of countries by credit rating
278:Bank for International Settlements
88:; international trade imbalances;
14:
4686:Economic and Monetary Union (EMU)
4283:European Union Military Committee
4255:European Committee of the Regions
2360:2011 Bangladesh share market scam
2264:Japanese asset price bubble crash
2240:Souk Al-Manakh stock market crash
1991:2007–2008 world food price crisis
1791:Chinese economic stimulus program
1776:2008 European Union stimulus plan
1700:Commercial Paper Funding Facility
4662:Permanent Structured Cooperation
4278:Political and Security Committee
4165:European Atomic Energy Community
3448:
3436:
3424:
2598:Single euro payments area (SEPA)
2501:European System of Central Banks
2019:List of countries by public debt
1646:National Asset Management Agency
1344:Budget deficit from 2007 to 2015
1270:Göbel, Heike (17 January 2011).
367:
353:
5064:National parties by affiliation
4907:Euronest Parliamentary Assembly
4887:Economic Partnership Agreements
3578:Western Union (1948–1954)
1974:2008 Central Asia energy crisis
1891:Collateralized debt obligations
299:is more than 85 percent of GDP.
5069:Presidents of the institutions
4865:European Higher Education Area
4443:International status and usage
4237:Agencies of the European Union
3970:European political foundations
2370:2015–2016 stock market selloff
2355:August 2011 stock markets fall
1781:2008–2009 Keynesian resurgence
1626:Federal Housing Finance Agency
1621:Federal Housing Administration
1330:2011 Dahrendorf Symposium Blog
859:Norris, Floyd (15 June 2012).
833:Atkins, Ralph (14 June 2012).
104:sought alternatives globally.
30:address ways to deal with the
1:
4860:European Common Aviation Area
4315:Charter of Fundamental Rights
4288:European Union Military Staff
4188:European University Institute
3977:Council of the European Union
2578:Economy of the European Union
2324:U.S. bear market of 2007–2009
2314:Stock market downturn of 2002
2286:1998 Russian financial crisis
2252:Rio de Janeiro Stock Exchange
1796:Economic Stimulus Act of 2008
1730:Troubled Asset Relief Program
1656:Office of Financial Stability
1631:Federal Housing Finance Board
1565:Société Générale trading loss
545:Lewis, Michael (April 2009).
398:Federal Reserve Economic Data
4855:European Political Community
4701:European Banking Supervision
4193:European Stability Mechanism
2708:2 € commemorative coins
2542:European Stability Mechanism
2319:Chinese stock bubble of 2007
2235:1973–1974 stock market crash
1715:Irish emergency budget, 2009
716:"Europe's Eastern Periphery"
38:country governments and the
4927:Union for the Mediterranean
4706:Single Resolution Mechanism
4645:Vehicle registration plates
4599:Migration and asylum policy
4578:Potential superpower status
3215:European Monetary Institute
2281:October 27, 1997 mini-crash
2276:1997 Asian financial crisis
1364:: Government Debt in Europe
1347:Economist Intelligence Unit
547:"Wall Street on the Tundra"
5145:
4870:EU/ESA Framework Agreement
4568:Differentiated integration
4134:European Court of Auditors
3965:European political parties
3069:Other extant EU currencies
2915:Monetary agreement with EU
2334:2009 Dubai debt standstill
2329:2007–2008 financial crisis
2258:Friday the 13th mini-crash
2168:Paris Bourse crash of 1882
2014:2007–2008 financial crisis
1906:Mortgage-backed securities
1517:Automotive industry crisis
1314:The EU Crisis Pocket Guide
205:
86:2007–2008 financial crisis
5087:
4987:House of European History
4975:
4609:European Judicial Network
4479:Health expense per person
4408:
4126:Supreme audit institution
3820:
3636:
3618:
3600:
3419:
3042:Countries and territories
2971:Saint Pierre and Miquelon
2713:Other commemorative coins
2537:Stability and Growth Pact
2381:2018 cryptocurrency crash
2375:Brexit stock market crash
2220:Wall Street Crash of 1929
2004:
1911:Secondary mortgage market
1832:rescues, and acquisitions
1830:Government interventions,
1821:Zero interest-rate policy
1669:
1532:Housing market correction
1340:topic page updated daily.
1324:2011 Dahrendorf Symposium
861:"Federalism by Exception"
404:Great Recession in Europe
4178:European Investment Fund
4173:European Investment Bank
3395:Former fiscal provisions
3165:European Monetary System
2955:using euro per agreement
2096:South Sea Bubble of 1720
1929:(United States; c. 2009)
1661:UK Financial Investments
1546:Banking losses and fraud
1537:Subprime mortgage crisis
1522:California budget crisis
784:
234:On 20 October 2011, the
82:globalization of finance
57:Background to the crisis
4882:European Peace Facility
4109:System of Central Banks
3044:using euro unilaterally
2557:European Fiscal Compact
2386:2020 stock market crash
2308:9/11 stock market crash
2215:Depression of 1920–1921
1947:(worldwide; 2011–2012)
1886:Auction rate securities
1616:Federal Home Loan Banks
1318:Transnational Institute
1231:Boston Consulting Group
782:Philippas, Nikolaos D.
665:. New York. pp. A1
447:Lewis, Michael (2011).
316:Boston Consulting Group
4992:2012 Nobel Peace Prize
4838:European Economic Area
4696:European banking union
4573:Privileged partnership
4428:Government procurement
3271:European Currency Unit
2957:without minting rights
2453:European banking union
2225:Recession of 1937–1938
2091:The Mississippi Bubble
1636:Federal Reserve System
1510:United States-specific
812:(Transcript of speech)
503:. Thisamericanlife.org
383:2000s commodities boom
273:
240:European Monetary Fund
230:European Monetary Fund
77:
66:
23:
4937:Free trade agreements
4779:Health Insurance Card
4713:Capital Markets Union
4563:Democratic legitimacy
4533:Optimum currency area
4354:Legislative procedure
4099:European Central Bank
3442:European Union portal
2991:Potential adoption by
2981:Akrotiri and Dhekelia
2728:Europa coin programme
2491:European Central Bank
2448:Capital Markets Union
2230:Kennedy Slide of 1962
2101:Bengal Bubble of 1769
1986:Decline of newspapers
1933:2009 May Day protests
1879:and financial markets
1769:Stimulus and recovery
1247:Tschüss, Kapitalmarkt
814:. Deutsche Bundesbank
361:European Union portal
271:
157:European fiscal union
72:
64:
21:
5049:Books on the subject
4912:EU Gateway Programme
4875:EU/ESA Space Council
4833:Neighbourhood Policy
4791:Regional development
4757:Environmental policy
4747:Educational policies
4674:Neighbourhood Policy
4518:Intergovernmentalism
4508:European integration
4423:Community preference
4374:Enhanced cooperation
4359:Citizens' Initiative
4198:Unified Patent Court
4049:Directorates-General
3840:Environmental issues
3264:Preceding currencies
3230:European debt crisis
2620:International status
2339:European debt crisis
2061:Stock market crashes
2009:European debt crisis
1901:Credit default swaps
1877:Securities involved
1683:stability and reform
1362:Google – public data
1335:European Debt Crisis
1233:. 23 September 2011.
139:credit default swaps
32:European debt crisis
5074:Terrorist incidents
4902:Eastern Partnership
4843:EEA Joint Committee
4762:European Green Deal
4732:Agricultural policy
4538:Supranational union
4029:European Commission
3987:General Secretariat
3923:European Parliament
3878:Special territories
3678:Financial stability
3245:Previous EU members
3159:Snake in the tunnel
2610:Euro Currency Index
2272:(16 September 1992)
1969:2000s energy crisis
1681:Banking and finance
1599:Government entities
1144:The Financial Times
953:European Commission
839:The Financial Times
788:(in Greek). skai.gr
695:on 26 February 2010
171:Jean-Claude Trichet
167:Deutsche Bundesbank
135:financial contagion
102:U.S. Treasury bonds
90:real-estate bubbles
4922:Northern Dimension
4669:Enlargement Policy
4611:(criminal matters)
4523:Multi-speed Europe
4216:European Ombudsman
3872:(first-level NUTS)
3855:Larger urban zones
3454:Numismatics portal
3276:Austrian schilling
2953:Non-EU territories
2628:Proposed eurobonds
2116:Panic of 1796–1797
1951:Occupy Wall Street
1927:Tea Party protests
1585:Scott W. Rothstein
1054:. 23 November 2011
868:The New York Times
740:. investopedia.com
738:"PIIGS Definition"
663:The New York Times
607:The New York Times
580:The New York Times
480:The New York Times
320:debt restructuring
274:
78:
67:
24:
5116:
5115:
5035:
5034:
5022:Telephone numbers
4962:
4961:
4737:Cultural policies
4487:
4486:
4474:Unemployment rate
4296:
4295:
4156:international-law
4149:
4148:
4139:Secretary-General
3891:
3890:
3850:Geographic centre
3807:
3806:
3707:
3706:
3649:
3648:
3463:
3462:
3415:
3414:
3361:Portuguese escudo
3137:
3136:
2946:
2945:
2789:
2788:
2718:Identifying marks
2573:Economy of Europe
2530:Fiscal provisions
2394:
2393:
2248:(19 October 1987)
2027:
2026:
1996:Retail apocalypse
1941:(MENA; 2010–2012)
1872:
1871:
1868:
1867:
1764:
1763:
1744:Bank stress tests
1397:NPR, January 2012
1391:NPR, October 2011
926:. 19 October 2012
635:. 29 October 2011
460:978-0-393-08181-7
276:According to the
257:percentage points
165:President of the
5136:
5096:
4973:
4850:Energy Community
4769:Fisheries policy
4528:Neofunctionalism
4498:
4406:
4348:Official Journal
4335:Citizens' Rights
4074:Court of Justice
4012:European Council
3960:Political groups
3911:
3902:
3873:
3818:
3598:
3566:
3511:
3490:
3483:
3476:
3467:
3452:
3440:
3428:
3366:Sammarinese lira
3356:Monégasque franc
3346:Luxembourg franc
3341:Lithuanian litas
3210:Delors Committee
3199:
3193:
3188:
3182:
3177:
3171:
3148:
3114:Hungarian forint
3081:
3075:
2966:Saint Barthélemy
2798:
2656:
2633:Reserve currency
2421:
2414:
2407:
2398:
2345:2010 Flash Crash
2054:
2047:
2040:
2031:
1920:Social responses
1845:
1741:
1671:
1441:
1434:
1427:
1418:
1302:
1301:
1299:
1297:
1286:
1280:
1279:
1274:. Archived from
1267:
1261:
1260:
1258:
1256:
1241:
1235:
1234:
1228:
1220:
1211:
1210:
1208:
1206:
1196:
1187:
1181:
1180:
1178:
1176:
1161:
1155:
1154:
1152:
1150:
1138:(24 June 2012).
1132:
1126:
1125:
1123:
1121:
1106:
1100:
1099:
1097:
1095:
1090:on 26 April 2012
1089:
1082:
1073:
1064:
1063:
1061:
1059:
1044:
1038:
1037:
1035:
1033:
1018:
1012:
1011:
1009:
1007:
996:
990:
989:
987:
985:
974:
965:
964:
962:
960:
945:
936:
935:
933:
931:
916:
910:
909:
907:
905:
888:
882:
881:
876:
874:
865:
864:(blog by expert)
856:
850:
849:
847:
845:
830:
824:
823:
821:
819:
813:
807:Weidmann, Jens.
804:
798:
797:
795:
793:
779:
773:
772:
770:
768:
759:Riegert, Bernd.
756:
750:
749:
747:
745:
734:
728:
727:
725:
723:
711:
705:
704:
702:
700:
681:
675:
674:
672:
670:
654:
645:
644:
642:
640:
625:
619:
618:
616:
614:
598:
592:
591:
589:
587:
571:
565:
564:
559:
557:
542:
536:
535:
533:
531:
519:
513:
512:
510:
508:
497:
491:
490:
488:
486:
471:
465:
464:
444:
377:
372:
371:
363:
358:
357:
356:
125:) several times
5144:
5143:
5139:
5138:
5137:
5135:
5134:
5133:
5129:Eurozone crisis
5119:
5118:
5117:
5112:
5099:
5092:
5083:
5031:
5012:Public holidays
4958:
4932:Global Strategy
4824:
4817:
4786:Labour mobility
4679:Global Strategy
4640:Driving licence
4582:
4558:Pro-Europeanism
4483:
4395:
4320:Competition law
4292:
4270:
4264:
4247:
4241:
4225:
4208:
4202:
4157:
4155:
4145:
4120:
4085:
4055:
4039:Vice-Presidents
3998:
3933:Vice-Presidents
3887:
3871:
3865:Protected areas
3835:External border
3803:
3765:
3703:
3672:
3645:
3632:
3614:
3587:
3557:
3548:1993–2004
3543:1973–1993
3538:1958–1972
3533:1948–1957
3500:
3494:
3464:
3459:
3411:
3390:
3376:Slovenian tolar
3259:
3248:
3246:
3239:
3225:Black Wednesday
3195:
3191:
3184:
3180:
3173:
3169:
3133:
3097:
3079:
3071:
3062:
3046:
3043:
3035:
2994:
2993:other countries
2992:
2985:
2959:
2956:
2954:
2942:
2909:
2785:
2737:
2647:
2614:
2588:Euro calculator
2561:
2525:
2479:
2431:
2425:
2395:
2390:
2290:
2270:Black Wednesday
2193:
2120:
2079:
2063:
2058:
2028:
2023:
2000:
1957:
1945:Occupy movement
1915:
1878:
1864:
1843:
1831:
1825:
1760:
1739:
1682:
1676:
1665:
1594:
1541:
1505:
1450:
1448:Great Recession
1445:
1385:, February 2012
1310:
1305:
1295:
1293:
1288:
1287:
1283:
1269:
1268:
1264:
1254:
1252:
1245:"Harald Spehl:
1243:
1242:
1238:
1226:
1222:
1221:
1214:
1204:
1202:
1194:
1189:
1188:
1184:
1174:
1172:
1163:
1162:
1158:
1148:
1146:
1134:
1133:
1129:
1119:
1117:
1108:
1107:
1103:
1093:
1091:
1087:
1080:
1075:
1074:
1067:
1057:
1055:
1046:
1045:
1041:
1031:
1029:
1020:
1019:
1015:
1005:
1003:
998:
997:
993:
983:
981:
976:
975:
968:
958:
956:
947:
946:
939:
929:
927:
918:
917:
913:
903:
901:
897:The Irish Times
890:
889:
885:
872:
870:
863:
858:
857:
853:
843:
841:
832:
831:
827:
817:
815:
811:
806:
805:
801:
791:
789:
786:
781:
780:
776:
766:
764:
758:
757:
753:
743:
741:
736:
735:
731:
721:
719:
713:
712:
708:
698:
696:
683:
682:
678:
668:
666:
656:
655:
648:
638:
636:
627:
626:
622:
612:
610:
600:
599:
595:
585:
583:
573:
572:
568:
555:
553:
544:
543:
539:
529:
527:
521:
520:
516:
506:
504:
499:
498:
494:
484:
482:
473:
472:
468:
461:
446:
445:
436:
432:
409:Liikanen report
375:Business portal
373:
366:
359:
354:
352:
349:
309:Carmen Reinhart
266:
232:
210:
204:
184:Joseph Stiglitz
179:
159:
151:
94:Great Recession
74:Government debt
59:
51:government debt
12:
11:
5:
5142:
5140:
5132:
5131:
5121:
5120:
5114:
5113:
5111:
5110:
5105:
5098:
5097:
5089:
5088:
5085:
5084:
5082:
5081:
5076:
5071:
5066:
5061:
5056:
5051:
5045:
5043:
5037:
5036:
5033:
5032:
5030:
5029:
5024:
5019:
5014:
5009:
5004:
4999:
4997:Laissez-passer
4994:
4989:
4984:
4976:
4970:
4964:
4963:
4960:
4959:
4957:
4956:
4955:
4954:
4949:
4947:Current agenda
4939:
4934:
4929:
4924:
4919:
4914:
4909:
4904:
4899:
4894:
4889:
4884:
4879:
4878:
4877:
4867:
4862:
4857:
4852:
4847:
4846:
4845:
4835:
4829:
4827:
4819:
4818:
4816:
4815:
4814:
4813:
4808:
4806:Sport policies
4803:
4798:
4793:
4788:
4783:
4782:
4781:
4771:
4766:
4765:
4764:
4754:
4749:
4744:
4739:
4734:
4724:
4723:
4722:
4721:
4720:
4710:
4709:
4708:
4703:
4693:
4683:
4682:
4681:
4676:
4671:
4666:
4665:
4664:
4649:
4648:
4647:
4642:
4637:
4627:
4622:
4617:
4612:
4606:
4601:
4590:
4588:
4584:
4583:
4581:
4580:
4575:
4570:
4565:
4560:
4555:
4553:Federalisation
4550:
4545:
4543:Euroscepticism
4540:
4535:
4530:
4525:
4520:
4515:
4510:
4504:
4502:
4495:
4489:
4488:
4485:
4484:
4482:
4481:
4476:
4471:
4466:
4461:
4460:
4459:
4449:
4448:
4447:
4446:
4445:
4430:
4425:
4420:
4415:
4409:
4403:
4397:
4396:
4394:
4393:
4392:
4391:
4386:
4376:
4371:
4366:
4361:
4356:
4351:
4344:
4339:
4338:
4337:
4327:
4322:
4317:
4312:
4306:
4304:
4298:
4297:
4294:
4293:
4291:
4290:
4285:
4280:
4274:
4272:
4266:
4265:
4263:
4262:
4257:
4251:
4249:
4243:
4242:
4240:
4239:
4233:
4231:
4227:
4226:
4224:
4223:
4218:
4212:
4210:
4204:
4203:
4201:
4200:
4195:
4190:
4185:
4184:
4183:
4180:
4175:
4167:
4161:
4159:
4151:
4150:
4147:
4146:
4144:
4143:
4142:
4141:
4130:
4128:
4122:
4121:
4119:
4118:
4117:
4116:
4111:
4106:
4095:
4093:
4087:
4086:
4084:
4083:
4082:
4081:
4076:
4065:
4063:
4057:
4056:
4054:
4053:
4052:
4051:
4046:
4041:
4036:
4026:
4025:
4024:
4019:
4008:
4006:
4000:
3999:
3997:
3996:
3995:
3994:
3989:
3984:
3974:
3973:
3972:
3967:
3962:
3957:
3956:
3955:
3953:Constituencies
3945:
3940:
3935:
3930:
3919:
3917:
3908:
3899:
3893:
3892:
3889:
3888:
3886:
3885:
3880:
3875:
3867:
3862:
3857:
3852:
3847:
3845:Extreme points
3842:
3837:
3832:
3827:
3821:
3815:
3809:
3808:
3805:
3804:
3802:
3801:
3796:
3791:
3786:
3781:
3775:
3773:
3767:
3766:
3764:
3763:
3758:
3753:
3748:
3743:
3738:
3733:
3728:
3723:
3717:
3715:
3709:
3708:
3705:
3704:
3702:
3701:
3692:
3682:
3680:
3674:
3673:
3671:
3670:
3665:
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3625:
3619:
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3612:
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3601:
3595:
3589:
3588:
3586:
3585:
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3574:
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3570:Defence policy
3563:
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3555:
3550:
3545:
3540:
3535:
3530:
3525:
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3497:European Union
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3460:
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3457:
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3420:
3417:
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3413:
3412:
3410:
3409:
3404:
3398:
3396:
3392:
3391:
3389:
3388:
3383:
3381:Spanish peseta
3378:
3373:
3368:
3363:
3358:
3353:
3348:
3343:
3338:
3333:
3328:
3323:
3318:
3313:
3308:
3306:Finnish markka
3303:
3301:Estonian kroon
3298:
3293:
3288:
3283:
3278:
3273:
3267:
3265:
3261:
3260:
3258:
3257:
3255:United Kingdom
3251:
3249:
3244:
3241:
3240:
3238:
3237:
3232:
3227:
3222:
3217:
3212:
3207:
3202:
3201:
3200:
3189:
3178:
3162:
3154:
3152:
3145:
3139:
3138:
3135:
3134:
3132:
3131:
3126:
3121:
3116:
3111:
3105:
3103:
3099:
3098:
3096:
3095:
3090:
3084:
3082:
3072:
3067:
3064:
3063:
3061:
3060:
3055:
3049:
3047:
3040:
3037:
3036:
3034:
3033:
3028:
3023:
3018:
3013:
3008:
3006:Czech Republic
3003:
2997:
2995:
2990:
2987:
2986:
2984:
2983:
2978:
2973:
2968:
2962:
2960:
2951:
2948:
2947:
2944:
2943:
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2940:
2935:
2930:
2925:
2919:
2917:
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2902:
2897:
2892:
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2877:
2872:
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2862:
2857:
2852:
2847:
2842:
2837:
2832:
2827:
2822:
2817:
2812:
2806:
2804:
2795:
2791:
2790:
2787:
2786:
2784:
2783:
2778:
2773:
2768:
2763:
2758:
2753:
2747:
2745:
2739:
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2735:
2730:
2725:
2720:
2715:
2710:
2705:
2700:
2695:
2690:
2685:
2680:
2675:
2670:
2664:
2662:
2653:
2649:
2648:
2646:
2645:
2643:World currency
2640:
2635:
2630:
2624:
2622:
2616:
2615:
2613:
2612:
2607:
2606:
2605:
2595:
2590:
2585:
2580:
2575:
2569:
2567:
2563:
2562:
2560:
2559:
2554:
2549:
2547:Euro Plus Pact
2544:
2539:
2533:
2531:
2527:
2526:
2524:
2523:
2518:
2513:
2508:
2503:
2498:
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2484:Administration
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2470:
2465:
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2326:
2321:
2316:
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2305:
2302:Dot-com bubble
2298:
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2255:
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2207:
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2186:
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2175:
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2149:
2144:
2139:
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2128:
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2122:
2121:
2119:
2118:
2113:
2108:
2106:Crisis of 1772
2103:
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2025:
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2016:
2011:
2005:
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1962:Related topics
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1860:General Motors
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1842:
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1835:
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1823:
1818:
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1806:Green New Deal
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1590:Allen Stanford
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1560:
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1540:
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1527:Housing bubble
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1365:
1359:
1356:New York Times
1350:
1341:
1338:New York Times
1332:
1327:
1321:
1309:
1308:External links
1306:
1304:
1303:
1292:. Die-linke.de
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1236:
1212:
1201:on 1 July 2013
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763:. dw-world.com
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305:Kenneth Rogoff
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297:household debt
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206:Main article:
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192:banking crisis
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123:external debts
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5007:Media freedom
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4755:
4753:
4752:Energy policy
4750:
4748:
4745:
4743:
4742:Customs Union
4740:
4738:
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4728:
4727:Single market
4725:
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4630:identity card
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4604:Schengen Area
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4325:Copyright law
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4311:
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4182:EIB Institute
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4079:General Court
4077:
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4044:Commissioners
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3894:
3884:
3881:
3879:
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3860:Member states
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3846:
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3371:Slovak koruna
3369:
3367:
3364:
3362:
3359:
3357:
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3349:
3347:
3344:
3342:
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3327:
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3322:
3321:Greek drachma
3319:
3317:
3314:
3312:
3309:
3307:
3304:
3302:
3299:
3297:
3296:Dutch guilder
3294:
3292:
3291:Cypriot pound
3289:
3287:
3286:Croatian kuna
3284:
3282:
3281:Belgian franc
3279:
3277:
3274:
3272:
3269:
3268:
3266:
3262:
3256:
3253:
3252:
3250:
3242:
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3223:
3221:
3218:
3216:
3213:
3211:
3208:
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3187:
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3176:
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3166:
3163:
3160:
3156:
3155:
3153:
3149:
3146:
3144:
3140:
3130:
3129:Swedish krona
3127:
3125:
3122:
3120:
3117:
3115:
3112:
3110:
3107:
3106:
3104:
3100:
3094:
3091:
3089:
3088:Bulgarian lev
3086:
3085:
3083:
3076:
3073:
3070:
3065:
3059:
3056:
3054:
3051:
3050:
3048:
3045:
3038:
3032:
3029:
3027:
3024:
3022:
3019:
3017:
3014:
3012:
3009:
3007:
3004:
3002:
2999:
2998:
2996:
2988:
2982:
2979:
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2974:
2972:
2969:
2967:
2964:
2963:
2961:
2958:
2949:
2939:
2936:
2934:
2931:
2929:
2926:
2924:
2921:
2920:
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2916:
2912:
2906:
2903:
2901:
2898:
2896:
2893:
2891:
2888:
2886:
2883:
2881:
2878:
2876:
2873:
2871:
2868:
2866:
2863:
2861:
2858:
2856:
2853:
2851:
2848:
2846:
2843:
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2833:
2831:
2828:
2826:
2823:
2821:
2818:
2816:
2813:
2811:
2808:
2807:
2805:
2803:
2799:
2796:
2792:
2782:
2779:
2777:
2774:
2772:
2769:
2767:
2764:
2762:
2759:
2757:
2754:
2752:
2749:
2748:
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2740:
2734:
2731:
2729:
2726:
2724:
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2679:
2676:
2674:
2671:
2669:
2666:
2665:
2663:
2661:
2657:
2654:
2652:Denominations
2650:
2644:
2641:
2639:
2636:
2634:
2631:
2629:
2626:
2625:
2623:
2621:
2617:
2611:
2608:
2604:
2601:
2600:
2599:
2596:
2594:
2591:
2589:
2586:
2584:
2581:
2579:
2576:
2574:
2571:
2570:
2568:
2564:
2558:
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2553:
2550:
2548:
2545:
2543:
2540:
2538:
2535:
2534:
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2528:
2522:
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2211:
2210:Panic of 1907
2208:
2206:
2205:Panic of 1901
2203:
2202:
2200:
2196:
2190:
2189:Panic of 1896
2187:
2185:
2184:Panic of 1893
2182:
2179:
2176:
2174:
2173:Panic of 1884
2171:
2169:
2166:
2164:
2163:Panic of 1873
2161:
2158:
2155:
2153:
2152:Panic of 1857
2150:
2148:
2147:Panic of 1847
2145:
2143:
2142:Panic of 1837
2140:
2138:
2137:Panic of 1825
2135:
2133:
2132:Panic of 1819
2130:
2129:
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2117:
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2112:
2111:Panic of 1792
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2015:
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1576:
1575:Bernie Madoff
1573:
1571:
1570:Forex scandal
1568:
1566:
1563:
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1556:
1555:
1554:
1553:Libor scandal
1551:
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1349:30 March 2011
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955:. 6 June 2012
954:
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900:. 6 June 2012
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634:
633:The Economist
630:
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163:Jens Weidmann
156:
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118:
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105:
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71:
63:
56:
54:
52:
48:
43:
41:
37:
33:
29:
20:
16:
4979:
4801:Space policy
4469:Average wage
4464:Minimum wage
4347:
4091:Central bank
3906:Institutions
3830:Demographics
3713:Enlargements
3696:
3687:
3655:Central bank
3562:Predecessors
3447:
3435:
3430:Money portal
3423:
3386:Vatican lira
3351:Maltese lira
3336:Latvian lats
3331:Italian lira
3311:French franc
3124:Romanian leu
3119:Polish złoty
3109:Czech koruna
3093:Danish krone
2938:Vatican City
2723:Starter kits
2472:
2295:21st century
2246:Black Monday
2198:20th century
2178:Encilhamento
2157:Black Friday
2125:19th century
2084:18th century
2068:17th century
1355:
1346:
1337:
1294:. Retrieved
1284:
1276:the original
1265:
1253:. Retrieved
1246:
1239:
1230:
1203:. Retrieved
1199:the original
1185:
1173:. Retrieved
1159:
1147:. Retrieved
1143:
1136:Cohen, Norma
1130:
1118:. Retrieved
1104:
1092:. Retrieved
1085:the original
1056:. Retrieved
1042:
1030:. Retrieved
1025:
1016:
1004:. Retrieved
994:
982:. Retrieved
957:. Retrieved
928:. Retrieved
924:Der Standard
914:
902:. Retrieved
895:
886:
878:
871:. Retrieved
867:
854:
842:. Retrieved
838:
828:
816:. Retrieved
802:
790:. Retrieved
777:
765:. Retrieved
754:
742:. Retrieved
732:
720:. Retrieved
709:
697:. Retrieved
693:the original
689:BusinessWeek
688:
679:
669:19 September
667:. Retrieved
662:
637:. Retrieved
632:
623:
611:. Retrieved
606:
596:
584:. Retrieved
579:
569:
561:
554:. Retrieved
550:
540:
528:. Retrieved
517:
505:. Retrieved
495:
483:. Retrieved
479:
469:
448:
332:Harald Spehl
329:
325:
313:
302:
275:
253:
233:
224:
220:moral hazard
211:
196:
188:Paul Krugman
180:
160:
152:
143:
131:
119:
106:
98:
79:
44:
27:
25:
15:
5079:Urban areas
4942:Enlargement
4620:Citizenship
4369:LGBT rights
4207:Independent
4022:Euro summit
3938:Secretariat
3915:Legislature
3771:Withdrawals
3326:Irish pound
3316:German Mark
3220:Enlargement
2885:Netherlands
2521:Euro summit
2304:(2000–2002)
2266:(1990–1992)
2180:(1890–1893)
1939:Arab Spring
1848:Non-banking
1580:Tom Petters
1175:15 February
1120:15 February
1058:24 November
1032:21 November
1006:21 November
984:21 November
551:Vanity Fair
5054:Directives
4952:Statistics
4774:Healthcare
4513:Eurosphere
4418:Currencies
4389:Withdrawal
4364:Regulation
4169:EIB Group
4114:Eurosystem
3982:Presidency
3943:Committees
3883:Statistics
3553:Since 2004
3235:Withdrawal
3058:Montenegro
2933:San Marino
2875:Luxembourg
2781:500 €
2776:200 €
2771:100 €
2506:Eurosystem
1358:1 May 2010
1094:9 November
959:27 October
930:27 October
904:27 October
582:. New York
453:. Norton.
430:References
47:re-finance
5002:Languages
4981:Douzelage
4825:relations
4625:passports
4548:Euromyths
4452:Transport
4330:Directive
4158:EU bodies
4104:President
4061:Judiciary
4034:President
4017:President
4004:Executive
3992:Eurogroup
3948:Elections
3928:President
3825:Geography
3813:Geography
2870:Lithuania
2766:50 €
2761:20 €
2756:10 €
2743:Banknotes
2733:Euro mint
2638:Petroeuro
2516:Eurogroup
2458:Euro sign
1558:Tom Hayes
1455:By region
1251:. Zeit.de
526:. Npr.org
215:eurobonds
208:Eurobonds
202:Eurobonds
149:Proposals
5123:Category
5103:Category
5017:Religion
4823:Foreign
4811:VAT Area
4691:Eurozone
4587:Policies
4501:Concepts
4493:Politics
4433:Eurozone
4384:opt-outs
4379:Treaties
4269:Military
4246:Advisory
4230:Agencies
3870:Regions
3528:Founders
3515:Timeline
3247:and euro
3001:Bulgaria
2900:Slovenia
2895:Slovakia
2890:Portugal
2802:Eurozone
2751:5 €
2703:2 €
2698:1 €
2552:Six pack
2468:Language
2463:Eurozone
2254:collapse
1855:Chrysler
1467:Americas
1205:21 April
699:28 April
347:See also
341:The Left
295:private
115:solvency
36:Eurozone
5094:Outline
5027:Symbols
4968:Culture
4457:TRACECA
4401:Economy
4209:offices
3506:History
3151:General
3143:History
3026:Romania
3016:Hungary
3011:Denmark
2923:Andorra
2855:Ireland
2845:Germany
2835:Finland
2830:Estonia
2820:Croatia
2815:Belgium
2810:Austria
2566:Economy
2436:General
1501:Oceania
1494:Iceland
1316:by the
1149:21 July
1026:Reuters
873:17 June
844:17 June
818:17 June
556:18 July
5108:Portal
4413:Budget
4310:Acquis
4271:bodies
4248:bodies
3897:Bodies
3194:
3183:
3172:
3053:Kosovo
3031:Sweden
3021:Poland
2928:Monaco
2865:Latvia
2850:Greece
2840:France
2825:Cyprus
2511:Ecofin
2430:topics
2377:(2016)
2341:(2010)
2310:(2001)
2260:(1989)
2242:(1982)
2159:(1869)
1489:Europe
1462:Africa
1296:14 May
1255:14 May
792:17 May
767:17 May
744:17 May
722:17 May
639:14 May
613:14 May
586:14 May
530:7 July
507:14 May
485:6 June
457:
337:Greens
307:&
218:avoid
110:bubble
49:their
5041:Lists
4154:Other
3102:Other
2905:Spain
2880:Malta
2860:Italy
2660:Coins
2583:Eonia
1227:(PDF)
1195:(PDF)
1088:(PDF)
1081:(PDF)
1052:MSNBC
718:. BBC
4634:list
4438:Euro
3799:2020
3794:2012
3789:1985
3784:1984
3779:1962
3761:2013
3756:2007
3751:2004
3746:1995
3741:1990
3736:1986
3731:1981
3726:1973
3721:1954
3697:2012
3688:2012
3078:ERM
2428:Euro
1756:U.S.
1484:Asia
1298:2012
1257:2012
1207:2013
1177:2012
1151:2012
1122:2012
1096:2011
1060:2011
1034:2011
1008:2011
986:2011
961:2012
932:2012
906:2012
875:2012
846:2012
820:2012
794:2011
769:2011
746:2011
724:2011
701:2010
671:2011
641:2012
615:2012
588:2012
558:2012
532:2012
509:2012
487:2012
455:ISBN
400:FRED
339:and
314:The
282:OECD
186:and
40:Euro
26:The
4302:Law
3197:EMU
3192:III
3186:ERM
3175:ECU
2693:50c
2688:20c
2683:10c
248:Fed
244:EMU
127:GDP
5125::
3181:II
3080:II
2678:5c
2673:2c
2668:1c
1751:EU
1229:.
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
