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European Crisis

Before one to could even think of the end of great recession of 2008 ,greece gave birth to another crisis. Greece debt crisis is actually an evolution of the global crisis. Greece allowed deficit from central bank and government bond to pile up. Greece debt came into light in 2009.

Sovereignty:-

Definition

Having supreme independent authority over a territory. Supreme law making authority.

Debt: Debt is that which is owned. Moral obligation not requiring money.

Crisis: When the debt level increases to a level that it cant be repaid. This can even lead to lower economic growth and worsen the situation of the economy in terms of situation.

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