Description
This study discusses and analyses the broad issues that have underpinned the current European economic crisis. It examines the experiences of three countries – Greece, Ireland, and Portugal – which reveal an economic system which lacks the adjustment mechanisms that countries with sovereign currencies take for granted. Vani K. Borooah 1. Introduction 2. The Housing Bubble 3. The Banking Collapse 4. The Sovereign Debt Crisis 5. Reform, Hardship, and Unrest 6. Conclusion
