{"id":21373,"date":"2011-11-20T17:34:00","date_gmt":"2011-11-20T16:34:00","guid":{"rendered":"http:\/\/beta.next-finance.net\/kiosque\/understanding-the-eurozone-crisis-and-its-various-facets\/"},"modified":"2020-01-02T22:32:08","modified_gmt":"2020-01-02T21:32:08","slug":"understanding-the-eurozone-crisis-and-its-various-facets","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/kiosque\/understanding-the-eurozone-crisis-and-its-various-facets\/","title":{"rendered":"Understanding the eurozone crisis and its various facets"},"content":{"rendered":"

Following the previous two articles focused on financial investment during market turmoil (anticipation and risk management<\/a> , allocation<\/a> et alternative to financial markets investissements<\/a>), we will focus this time on the multiple aspects of the eurozone crisis<\/p>\n

A sovereign debt crisis<\/h2>\n\nAll started with a sovereign debt crisis involving Greece and its hidden indebtment<\/a>, then closely followed by Ireland and its specific growth model<\/a>. Other countries will be added to the never ending list. More than the length of the list, what worries mainly is the extent of difficulties faced by some states<\/a> and the contagion effects perfectly illustrated by the case of France<\/a>. What’s going on? We find some answers in a note from Philippe Waechter on Greece<\/a> or that of Philippe de Vandi\u00e8re on Spain<\/a>. Beyond the policies of each government, economists have even come to the questioning of the Western economic model<\/a>. <\/p>\n

A financial crisis<\/h2>\n\nOf course, as a governments major partner , the financial sector is affected and weakened. The problem is not only related to sovereign debts but also to changes in regulations. Indicators turn red, All references are lost, numerous questions remain. Therefore, it leads (as always in absence of information) to the reign of rumor<\/a>, suspicion<\/a> and associated panic. Note that uncertainty is fed ,on the one hand, by the reassuring results of bank stress tests<\/a> in contrast with a certain observed reality, and, on the other hand, by analysis and opinions of financial professionals that are as sensational as the words of Myron Scholes, \u00abWe need to burn or blow-up the OTC market in credit default swaps\u00bb<\/em>, regarding the previous crisis (in fact, according to some people, the current crisis would be just a “remake” of the past<\/a>). Interested readers can check the following list of opinions :<\/p>\n