Debt crisis

Debt crisis is the general term for a proliferation of massive public debt relative to tax revenues, especially in reference to Latin American countries during the 1980s, and the United States and the European Union since the mid-2000s. As well as the Chinese debt crises of 2015.

Current and recent debt crises

Europe

European debt crisis

Main article: European debt crisis

The European debt crisis is a crisis affecting several eurozone countries since the end of 2009. Member states affected by this crisis were unable to repay their government debt or to bailout indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank). The causes of the crisis included high-risk lending and borrowing practices, burst real estate bubbles, and hefty deficit spending. As a result, investors have reduced their exposure to European investment products, and the value of the Euro has decreased.

Other European debt crisises

• Greek government debt crisis
• Irish financial crisis
• Portuguese economic crisis

Latin America

• Argentine debt restructuring
• Latin American debt crisis

North America

• United States debt-ceiling crisis of 2011
• United States debt-ceiling crisis of 2013

See also

• Debt
• Debt of developing countries
• Government debt
• List of countries by credit rating
• List of countries by net international investment position
• List of countries by public debt
• Monetary sovereignty
• Sovereign default
• State (polity)
• Tax