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German chancellor Angela Merkel (left), then Greek prime minister Alexis Tsipras and then French president Francois Hollande discuss a compromise (Photo: The Council of the European Union)

2008-2009: The years that almost broke the euro

The financial and economic crisis of 2007-2008, followed swiftly by the euro crisis of 2009-2010 and onwards, shook the world.

Some analysts declared the end of the euro, one of the most important symbols of Europe's unification.

The European Union wasn't ready to deal with both crises. The Great Recession plunged Europe into stagnation. Trillions of euros were lost.

Banks were collapsing because their system was built on garbage assets. Millions of people lost their house,...

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

German chancellor Angela Merkel (left), then Greek prime minister Alexis Tsipras and then French president Francois Hollande discuss a compromise (Photo: The Council of the European Union)

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

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