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Budget deficits and national debt

Budget deficits and national debt

By using the data (up to the year 2018) your textbook, LIRN-based research, a general reference list in international Economics, such as: Specialized Journals (p/12); General Journals (p/13); Sources of International Data (p/13); General Current information p/14) and the Internet Sources (p/ 14), for Euro zone countries (excluding Malta and Cyprus) discuss the impact of the following factors in bringing about the Euro crises:
1- Budget deficits and national debt
2- Balance of payments
3- Social expenditures
Using graphs compare the above factors for the countries in trouble, PIGS (Portugal, Ireland, Italy, Greece and Spain) vs/ other countries in the Euro zone like Germany and France that fared well and contrast which of the above factors may have contributed to the crisis/
The fact that all these countries were using a single currency and did not have the power to devalue their own currency could be another factor you need to consider when analyzing this issue/

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