subject: Economic Recession In The Euro Zone - Is the Euro Cracking Up? [print this page] The genesis of the crisis lies in the leniency displayed by the members earlier when some nations breached the 3% deficit limit and the 60% public debt limit of their GDPs. Lack of political will led the culprits to go scot free and the existing penalties were never levied on these nations. The onset of the recession led some such defaulting nations to get into dire trouble with their debt levels. As a result, today, there is a substantial difference in the macro economic conditions of various nations of the Euro zone and this is putting pressure on the unity of the Euro.
Economic Recession In The Euro Zone - Is the Euro Cracking Up?
