Posts Tagged ‘sovereign’

Sovereign debt crisis hits Europe?

Sovereign debt crisis hits Europe?

Sovereign debt crisis hits Europe?

It passed a year since the first voices of concern were heard. Then there were few people to think that a debt crisis could hit large European economies. The financial crisis from 2008 put the pressure on the banking systems and many countries decided to bail out their financial systems by increasing sovereign debt.

In 2010 the debt crisis hit Greece, a member state of the eurozone. A €110 billion loan from International Monetary Fund (IMF) and EU members was expected to solve the problem in Greece as the country agreed to implement harsh austerity measures.  Another two huge loans followed: a €85 billion for Ireland in November 2010, and a €78 billion loan for Portugal in May 2011. (more…)

Top youngest states in the world

Top youngest states in the world

Top youngest states in the world

The number of independent states has increased over time, currently reaching 203 sovereign states. Countries like Egypt, Japan, France, United Kingdom or Russia have a very long history that goes back millenniums ago.

Besides these states that have known centuries of independence and sovereignty, some states barely have few decades of independence. In the past 30 years never the less than 14 new states were born gaining their independence as nations. (more…)