BANGLADESH INSTITUTE OF INTERNATIONAL AND STRATEGIC STUDIES

EUROPEAN SOVEREIGN DEBT CRISIS: CAUSES AND IMPLICATIONS

Author: Benuka Ferdousi

DOI Link: https://www.dio.org/10.56888/BIISSj2012v33n2a2

ABSTRACT

After the financial meltdown in 2008, Europe is now struggling with sovereign debt crisis. The crisis, which is creating chaos in the economy and politics of the continent, has started impacting the global economy. The present article aims to find out the causes and implications of European sovereign debt crisis. It argues that the crisisis the result of some structural flaws in the Economic and Monetary Union (EMU) of the European Union (EU) and in global economy. The article underscores that the crisis is changing the political landscape of Europe and, with rising voice of disunity, threatening the existence of euro and the EU.