Call back

The Eurozone Crisis

Free «The Eurozone Crisis» Essay Sample

The Eurozone Crisis is a debt crisis, which at first hit the peripheral EU countries (Greece and Ireland), and then affected almost the entire euro area. The crisis of the government bond market in Greece in autumn 2009 was the main source of it. Refinancing of the public debt without the help of intermediaries has become a difficult or impossible task for some countries in the Eurozone. The paper studies the causes of and measures aimed at resolving the crisis, as well as the effects of these measures.

Since the late 2009, investors have started to anticipate the debt crisis due to the value growth of the public and private sectors debt around the world and simultaneous lowering the credit ratings of some EU countries (Lapavitsas & Kouvelakis, 2012). A variety of regional reasons has led to the development of the debt crisis in different countries. In some countries, crisis was caused by the provision of emergency government assistance to the companies in the banking sector that were on the verge of bankruptcy due to the market bubble. In others, crisis was caused by the government failed efforts to stimulate the economy after the market bubble burst (Lapavitsas & Kouvelakis, 2012). In Greece, the rise of the national debt was caused by a wasteful high-wage for the civil servants and a significant amount of the pension payments.


Title of your paper
Type of assignment
Number of pages
Academic Level

The structure of the Eurozone has also contributed to the crisis. It has had a negative impact on the ability of the European countries’ management to react to the development of the crisis: the euro area members have a single currency, but there is no single tax and pension legislation. It is noteworthy that doubts about the solvency of individual countries caused the doubts about the solvency of their banking sector and vice versa. It is due to the fact that a significant proportion of government bonds are in the property of the European banks. While the government bond issuance has increased significantly only in several Eurozone countries, the growth of public debt began a common problem of all countries of the European Union in general. Nevertheless, the European currency remained stable. The three countries that are most affected by the crisis (Greece, Ireland, and Portugal) accounted only for 6 percent of the gross domestic product (GDP) of the whole Eurozone.

In June 2012, the debt crisis in Spain came to the forefront of the economic problems in the Eurozone (Tuori, 2014). This fact led to a sharp increase in the rate of government bonds of Spain return and has hindered the country’s access to the capital markets. This problem, in turn, has caused the need to provide financial assistance to Spanish banks and implement a series of other measures. The use of traditional instruments of the anti-crisis policy, particularly fiscal and monetary (decline in interest rates, providing preferential credit conditions, and facilitating access to credit) did not always bring the expected results, allowing only to alleviate the manifestations of problems (Lapavitsas & Kouvelakis, 2012).

In order to resolve the crisis, it was decided to cancel 50% of the debt on Greek bonds owned by banks, in order to increase the funds of financial rescue by the European Financial Stability Facility almost fourfold and to increase the level of required capitalization of the EU banks to 9%. The decision was made after a meeting of leaders of 17 Eurozone countries in Brussels on October 26, 2011 (Daianu, 2014). Despite the entry into force of the requirements to increase the level of own funds, no bank could not receive the government capital investments while at least some of the European banks preserved the sizes of the paid dividends on the highest level. In addition, management of the European Central Bank (ECB) has implemented a series of measures aimed at stabilization of the financial markets and increase of their liquidity.

In May 2010, the leadership of the ECB has:

  • Started the operations on buying the government bonds and private debts in the open market. By February 2012, the cost of the purchased securities has reached €219.5 billion while ECB has carried out the absorption of excess liquidity for the prevention of inflation. According to Elwin de Groot, the economist of the Rabobank, €300 billion is a “natural limit” of the volume of debt that ECB could sterilize (Thesing, 2011);
  • Renewed an agreement on carrying out the transactions on the dollar swaps with the support of the Federal Reserve System;
  • Changed the requirements to credit ratings in the provision of the borrowed funds: now, all existing and new debt securities issued or guaranteed by the Greek government, regardless of the country’s credit rating, are accepted as collateral (Rodrigues, 2014).

These measures have led to a slight improvement of the situation with the Greek bonds in the capital markets. Raising additional funds with the help of these bonds remained difficult due to the fact that the credit rating of the government bonds of Greece was downgraded to junk.

Benefit from Our Service: Save 25% Along with the first order offer - 15% discount, you save extra 10% since we provide 300 words/page instead of 275 words/page

Order now

Another measure was European Stability Mechanism (ESM). The European Stability Mechanism is a permanent program to provide emergency financing funds, which came into effect in September 2012, replacing the two temporary emergency financing programs: the European Financial Stability Facility and the European Financial Stabilization Mechanism. ESM functions as a permanent element of the insurance network of the euro area with a maximum borrowing capacity of €700 billion (Daianu, 2014). Since 1 March 2013, availability of the completely ratified European fiscal agreement has become an obligatory condition of receiving the ESM assistance.


Absolute Confidentiality

Our company never discloses clients’ personal information to anyone.


Original Papers

Every paper is protected against plagiarism by specialized plagiarism detection software.


Timely Delivery to Beat any Deadline

Simply put, we do not miss deadlines even the tightest ones.


24/7 Customer Support

Whenever questions arise, feel free to get in touch with us during day and night.

Buy Essays Online from Us to Resolve Your Academic Challenges

Cannot write an ordinary essay or a complex thesis or dissertation by yourself? Do not worry since we have online solutions for every client. We are the most credible writing company where you can order an academic paper of any type. Whether you want to buy essays online, short-answer questions assignments, reaction papers, book reports, or any other projects, contact our academic writing agency. We know that students often face tough challenges through the academic years and want to help them ease their burden.


It is no secret that students are obliged to submit numerous writing tasks, which are a part of their educational curriculum. If you are one of those students who experience troubles while creating memos, research papers, concept maps and other pieces of writing, you may become extremely worried about the outcome, especially if the deadline is fast-approaching and instructions are perplexing. Our professional essay writers can help you handle your assignments and improve your final grades. So, do not hesitate to ask us for writing assistance.

We are here to help those desperate students who would like to get a perfectly written term paper, dissertation chapter, synopsis, grant proposal or any other work with completely authentic content. We do understand that the submission of plagiarized academic writing projects may lead to negative consequences such as unsatisfactory grades or even suspension from an educational establishment. In case you do not know how to create original content, order custom essays online from us. The qualified and professional essay writers comprising our team are experts in producing authentic texts. They always write papers from scratch and make proper citations, which means top-notch academic writing material is guaranteed. Thus, buy essay paper writing at if you desire to receive impeccable projects.


Title of your paper
Type of assignment
Number of pages
Academic Level

Buy Essay Paper Writing and Enjoy a Variety of Services Offered

Since students are assigned the tasks and projects of diverse nature, they strive to find the online company that can provide them with not only an essay writing service but also a spectrum of others that could help them cope with their assignments. is the company that offers a broad range of professional essay services. Some of them are listed below:

  • Professional essay editing. You have produced your custom essay but you are unsure whether it is correct in terms of sentence construction, clarity of text, etc. No problem! Submit your essay online to us and expect to be delivered a flawless work.
  • Valuable rewriting. We can reword any type of text. Thus, do not delay submitting your paper to us. Be confident that the rewritten document will be focused on the same topic and deliver the same messages as the original one.
  • Great formatting. Whether you buy essays online from us or the papers of other kinds, be certain that the citation style indicated in the order form will be applied correctly. We are conversant with all formats.
  • Remarkable proofreading. If you hesitate about being able to correct all punctuation errors, misspelled words, typos, etc. in your piece of writing, hire our proofreaders. They can easily spot all mistakes and correct them.

Regardless of the custom essay service you intend to use, you can be confident tha the final output will be outstanding since we are the experts focused on superb results. We realize that education matters a lot to you and it is not always easy to reach the objectives which you have defined for yourself. However, our custom essay writing team is here to assist you in the best way possible. So, do not panic if you don’t have a clue about how to create a powerful custom essay. Instead, turn to us to use our remarkable essay writing service.

Huge Discounts for Loyal Customers Who Regularly Order Custom Essays Online from Us


For more than

30 pages



For more than

50 pages



For more than

100 pages


Continue placing orders on our website and you will be provided with generous discounts for your loyalty. The discount rate depends on the number of pages ordered. The increasing number of orders presumes the rise of discounts from 5% to 15%. For example, if you buy 30 pages in total, you will receive a 5% discount on the future orders. In case you purchase 50 pages in total, you will get an opportunity of receiving a 10% discount on your next orders. When your assignments total 100 pages, you will be offered a 15% discount on the next orders. The most interesting fact is that such type of discount is called “life-time” and you will have an opportunity to use it as much as you need. Try our essay writing service now!

Why Should I Order an Essay from Your Website?

Have you ever thought about the cases when you cannot cope with a huge amount of home tasks and numerous academic papers that have to be written within a short time frame, whereas some other students get the best grades with ease? It is no longer a secret – they use online essay writing services and do not spend even a minute on writing boring essays and research papers.

When using a valuable academic writing service, one gets a wonderful opportunity to have some free time and manage it in their own way. Students get a chance to devote their attention to something other than studies. For example, they can take up a new hobby, try the kind of sports they have been dreaming of, enhance their personal development, etc. A worthy essay writing service is a great tool for those who want to make their academic life easier and more interesting. With a superb service at hand, students may stop bothering about the constant need of doing endless assignments, lab experiments, tests, etc.

If you also want to save your time and efforts just like other students in your class, make an order on our website and get numerous advantages:

Your paper will be assigned to the best writer, who specializes in your subject. It means that an expert writing specialist will complete your assignment according to your demands, so that you can get the desired grade.

You will have 48 hours (1-19 pages) or 30 days (20+ pages) for a free revision if you think that some requirements have not been followed by the writer. Please remember that this option requires keeping initial guidelines the same.

If you buy an essay online from our agency, be confident it will belong to you only. We never resell our clients’ orders as we value both their trust in us and our reputation. So, full ownership is granted!

On our website, you can buy essay papers at attractive prices that won’t hurt your budget. Just access our “Prices” page to see what rates we charge for different types of papers. Y0u can even determine the cost of your work before ordering it.


Use discount code first15 and

Get 15% OFF Your First Order!


Advantages of Cooperating with Our Professional Essay Writers

The question “Where to buy essays online?” is acute for a large number of students who cannot handle their assigned projects on their own. You have to be careful while choosing an agency to buy an essay paper online from, especially when it goes about some unknown online writing companies. There are more and more fraudulent providers on the Internet and students often become their victims by investing money into their scam services.

However, our company is known for providing a remarkable essay writing service. We have a big client base and we receive a lot of positive feedback on our work. We know how to satisfy customers’ demands and deliver superior quality services to every student.

If you buy an essay paper or that of any other kind from our online writing company, be certain that your professor will not even assume that it was written by another person. By using the writing service offered by our agency, you can confident of receiving a genuine paper written according to your specifications. You will not find a similar paper on the web, we guarantee!

One of the most important aspects to consider when choosing us to buy an essay online is our writers. We have a very strict hiring process since we want our writing team to comprise only highly knowledgeable and experienced specialists. We employ only the best writers on the writing market. Whenever you buy an essay or a complex dissertation, we will find the most suitable writer to accomplish your writing task.

We employ only professional essay writers who are degree holders and are able to take into consideration all customers’ needs. Here is a list of benefits you can gain if you hire one of our experts to write an essay online for you.

  • Your writer will carry out detailed research on your topic and gather all appropriate materials to make sure that your topic is covered fully.
  • The assigned expert will carefully analyze the collected data and determine the order of presenting it.
  • The specialist working on your assignment will structure it coherently so that it looks visually attractive and is easy to read.
  • Your writer will complete the given task according to the indicated citation style. Therefore, you no longer need to spend hours reading rules of formatting not to lose points for the paper.
  • If you buy essay papers on our website, have no doubts that it will contain all the required visual material, i.e. charts, tables, diagrams, etc.

If you want to write an essay or research paper on your own, you will have to spend many hours in the library and browse numerous online databases to find appropriate materials. However, our professional essay writers can do everything more effectively and according to the indicated deadline. So, buy essay assignments from us to ease your academic workload. You only have to place an online order.


Simple Ordering Process: Buy Essay Assignments with Ease!


Submityour paper details


Payfor the order


Downloadyour paper


Only a Few Clicks to Buy Essay Writing of Top Quality

The process of using our essay writing service is indeed rather simple. It requires our customers, who want to order an essay online from, to fill out a comprehensible form and that’s all. So, to buy essay paper writing from us, you need to:

  1. Provide broad guidelines about how to deal with your assignment. Indicate the deadline, topic, number of words, spacing, citation style, etc.
  2. Pay for your assignment. We offer several reliable payment methods which you can use to buy an essay online from us. Once the transaction is verified, your assignment will appear in our system.
  3. Communicate with your expert if required. We have created an effective system for online communication between our clients and writers. So, you can always send your specialist a message if such a need arises.
  4. Download your completed paper. Once your deadline expires, your assignment will be uploaded to your account at Additionally, the copy of your completed project will be sent to your email.

So, why waste your time if you can order an essay from us and forget your worries and troubles? Our academic writing team is always ready to assist you in overcoming your academic difficulties. Thus, feel free to use our essay writing service to achieve the desired success!

Use disount code first15 and
Place your order now
Online - please click here to chat

Coherent Cookies Policy: our aim is customer satisfaction! We guarantee complete security, fully customized content and perfect services. Read more »

It’s Ok