Online tool created by Institute of Economic and Social Studies shows complete breakdown of member states’ costs and guarantees for the rescue of the Eurozone.
The fiscal storms of 2010-2012 are gone, but the crisis in Eurozone is far from being a history. Continuous fiscal problems in Greece, banking problems in Portugal, or repeatedly missed deficits in France signal continuous struggle.
The first “rescue round” of 2010-2012 was heavily felt by the citizens of the rescued countries. Despite providing hundreds of billions worth help, the citizens of the core were shielded from the imminent impact. ECB, EFSF and ESM enabled to summon the money without seriously affecting national budgets.
However, the bailout guarantees provided by the member state tax payers may come back to the headlines very swiftly in the moment when one of the PIIGS countries finds repaying the bailout impossible – or unwilling.
Viac o Bill for saving the Eurozone