Research On The Eurozone Sovereign Debt Crisis

Since2008the United States financial crisis sweeping the globe, another roundof growth in the eurozone countries debt crisis began. By the end of2009, Greececontinued to worsen the sovereign debt Greek stock market crash and triggered amassive workers went on strike and mass riots, the Greek debt crisis then evolvedinto an economic and political crisis.Portugal and Spain’s sovereign debt level havebeen cut a few times, causing a large European sovereign debt crisis. So far, thiseurozone sovereign debt crisis has not been solved effectively, this crisis becomes themost influential sovereign debt crisis.Based on this research, the root of the crisis can be found that there are both thenational level of financial management reasons, and the economic structure andsystem problem: the eurozone countries economic structure imbalance, weakeconomic growth; high welfare social insurance system; the eurozone unifiedmonetary policy and fiscal policy independence cut the policy coordination; and afterthe outbreak of the crisis, the eurozone countries do harm to their neighbours, rescuemeasures does not reach the designated position.Secondly, through the research and analysis of the influence and the crisissituation, we can see that the crisis in the short term will not only further hinder theeconomic development of all countries in the euro area, impact the eurozoneeconomic integration mode in the long-term, but also can increase the risk of globaleconomic. To handle the crisis, it is necessary to help these countries, to buildlong-term cooperation, and to ajust the industial structure.Thirdly, EU is China’s biggest trade partner,20%of exports come from EU.thiscrisis will certainly strengthen the eurozone countries’ trade protection on China’sexport production, thus impact our foreign trade enterprise; At the same time, theunstable performance of euro can also affect the safety of our country reserve assets,and even cause certain effect to the value of the RMB. Although China has not appeared sovereign debt problems, but the eurozone sovereign debt crisis gives us thelesson. On the one hand, China has to take active measures to cope with the crisis; onthe other hand to think of the problems of debt in China, to prudent existing debtproblems. In addition, the eurozone sovereign debt crisis research can also help toanalysis the current China’s industrial structure, to change the mode of economicgrowth in China, and to look for the new economic growth point.