Euro crisis Trivia Questions

Despite speculation, no country left the euro. Greece came closest but remained after harsh bailouts and capital controls.

The ESM was established in 2012 as a permanent bailout fund. No such mechanism existed when Greece first needed help in 2010.

Ireland had low public debt before 2008, but its government guaranteed all bank liabilities, crushing its finances when banks failed.

In 2001, Goldman Sachs helped Greece use a currency swap to disguise billions in debt, allowing it to meet eurozone entry criteria.

The ECB did launch massive bond-buying programs, but never 'unlimited' money—legal and political limits constrained quantitative easing.

Greece repaid the IMF early in 2019, but the crisis's official end is debated—high debt and political strains persist well beyond 2015.

Germany's safe-haven status lowered its bond yields, and a weaker euro boosted its exports—net gain of billions.

Cyprus imposed a one-time levy on large deposits to recapitalize its banks—the first time depositors were directly hit in the crisis.