Sentence examples for euro borrowing from inspiring English sources
Yet the uncomfortable truth is that Portugal spent 10 years growing its state sector on cheap euro borrowing, and the country will soon go bust if it does not slash its national outgoings and find a way to generate some wealth.
Easy euro borrowing over the past decade (fueled by reckless but highly profitable European banks), has contributed to these days of reckoning.
The Republic suffered a severe downturn after the financial crash in 2008, with billions of euros borrowed from the EU and the International Monetary Fund to prevent the banking system from total collapse.
No sooner did the elections in Greece on Sunday ease fears of a disorderly Greek exit from the euro then borrowing costs spiked in Spain and Italy.
On a continent seeking leadership, the two veteran politicians leading left and right into the vote Sunday have retreated into generalities, failing to explain what policy changes they seek to allow Spain to emerge from a quagmire of 21 percent unemployment — twice the European average — and record post-euro borrowing rates.
That would help bring down the borrowing costs of peripheral countries such as Italy and Spain, especially if Germany consented to give its backing to overall euro-zone borrowing.
If that happened, the stability facility, which has only 300 billion euros of borrowing power left, would not be big enough to help.
If a euro member borrows more, the impact on other countries' interest rates is minimal.
These southern countries, some of them relatively new democracies, took advantage of the euro to borrow money cheaply.
The Target2 system, the mechanism by which national central banks in the euro area borrow from or lend to each other, is a good indicator of financial fragmentation along national borders (Figure 4).
Both Mr. Hollande and Mr. Rajoy said on Thursday that the euro zone needed to moderate the large divergences in euro zone members' borrowing costs that had developed over the course of the euro debt crisis.
