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Essay from the year 2014 in the subject Economics - Finance, , course: Economics, language: English, abstract: By late 2007, the first signs of financial bubble collapse, public debt, its servicing and the notorious spreads were not subject to financial markets. Countries having high or low debts used to borrow at low interest rates and were not subject to special assessment procedures. 1999 was the last time that financial markets caused national economies to default. This was the case of the crisis in Southeast Asia. The crisis, however, was combined with the massive exodus of foreign capital from the financial markets in the region, which inevitably led to devaluation of currencies, suspension of borrowing and collapse of their economies. The Greek debt crisis is the most serious financial crisis that appeared in a country member of the Eurozone, and it is thought that it will have serious implications on the stability of the Euro. In this paper, the general economic situations of EU and Greece will be examined to check whether the above assumption is possible.