Chapter 6 The sovereign debt crisis
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Chapter 6 offers a more detailed examination of how things evolved during the difficult years of the sovereign debt crisis in each of the five eurozone Member States that requested financial assistance (Greece, Ireland, Portugal, Spain and Cyprus). It provides a brief description of the pre-existing situation in each country and of the main events that took place during and following the sovereign debt crisis. The chapter also includes a timeline of the various excessive deficit procedures and summaries of the macroeconomic adjustment programmes negotiated with each country in connection with the financial assistance.

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