the collapse of governments for a system of borrowing year after yearis causingthe collapse of governments for a system of borrowing year after year
from the financial crisis caused by banksresultedfrom the financial crisis caused by banks
to a default in the US treasuries marketwill ... leadto a default in the US treasuries market
to the banking crisis , in which banks are facing big losses arising out of debtledto the banking crisis , in which banks are facing big losses arising out of debt
to funding problemsmay leadto funding problems
the slowdown in Europe(passive) caused bythe slowdown in Europe
a second recessioncausinga second recession
a second recession andcausinga second recession and
the integration of EU banking systems(passive) has been ... influenced bythe integration of EU banking systems
to its governing the fiscal and welfare policies of a number of statesledto its governing the fiscal and welfare policies of a number of states
banks(passive) caused bybanks
in Europeoriginatingin Europe
governments to default on their debt obligationswill causegovernments to default on their debt obligations
problemswould causeproblems
alsocontributedalso
a rapid deterioration of the European economyhad causeda rapid deterioration of the European economy
in the deterioration of public financesoriginatedin the deterioration of public finances
the marketshas setthe markets
in a six quarter recession for the euro area economyresultedin a six quarter recession for the euro area economy
a banking crisis , which is in turn leading to a worsening of the sovereign debt crisis ... in a vicious cycle that threatens to destroy the currency unioncauseda banking crisis , which is in turn leading to a worsening of the sovereign debt crisis ... in a vicious cycle that threatens to destroy the currency union
a much more conservative approach to lendingprompteda much more conservative approach to lending