Abstract

REYES GUZMAN, Gerardo  and  MOSLARES GARCIA, Carlos. La Unión Europea en Crisis: 2008-2009. Prob. Des [online]. 2010, vol.41, n.161, pp.13-39. ISSN 0301-7036.

The economic crisis of 2008-2009 undermined the solidity that the European economy had exhibited during that decade. The economic disequilibrium of the countries known as the PIIGS (Portugal, Italy, Ireland, Greece and Spain) led rating agencies to increase their sovereign risk rates, and this caused a weakening of the euro. The beginning of Greece's fiscal collapse in 2010 constitutes one of the most serious sequels in the crisis -overcoming it will be yet another challenge for the European Central Bank and the members of the European Union, related to the future of the common currency.

Keywords : European Union; economic crisis; euro zone; macroeconomic disequilibrium; country risk.

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