Eurozone Sovereign Debt Crisis and EU Responses (2009-2015)

1. Greece reveals far larger 2009 deficit

   Oct 20, 2009Labels: Greece, Budget deficit

   • ESM Timeline
   • Al Jazeera Q
   • Guardian Timeline

2. First Greece rescue programme is approved

   May 2, 2010Labels: Greece, IMF

   • ESM Timeline
   • Guardian Timeline

3. ECB launches Securities Markets Programme

   May 10, 2010Labels: ECB, Securities Markets

   • SMP Resource
   • ESM Timeline

4. EFSF is incorporated as a euro-area backstop

   Jun 7, 2010Labels: EFSF, Luxembourg

   • Irish Statute
   • EFSF Overview

5. Ireland agrees €85 billion EU-IMF programme

   Dec 16, 2010Labels: Ireland, EU IMF

   • EC Ireland
   • IMF Ireland PR

6. Portugal secures €78 billion EU-IMF package

   May 20, 2011Labels: Portugal, EU IMF

   • IMF Portugal PR
   • IMF Survey

7. EU “Six-Pack” governance reforms enter into force

   Dec 13, 2011Labels: Six-Pack, European Commission

   • EC Governance
   • Six Pack

8. Greece restructures privately held bonds (PSI)

   Mar 1, 2012Labels: Greece, PSI

   • ESM PSI
   • IMF Greece

9. Fiscal Compact treaty is signed

   Mar 2, 2012Labels: Fiscal Compact, EU governments

   • Fiscal Compact
   • EP Fact Sheet

10. Draghi’s “whatever it takes” pledge

    Jul 26, 2012Labels: Mario Draghi, ECB

    • EP Study
    • DW 2013

11. ECB sets Outright Monetary Transactions (OMT) details

    Sep 6, 2012Labels: OMT, ECB

    • EU Pub Office
    • ECB Speech

12. ESM treaty enters into force, creating permanent fund

    Sep 27, 2012Labels: ESM, Treaty

    • ESM Treaty
    • ESM Treaty Wiki

13. Spain receives ESM support for bank recapitalization

    Dec 3, 2012Labels: Spain, ESM

    • DW Spain

14. Fiscal Compact enters into force

    Jan 1, 2013Labels: Fiscal Compact, EU

    • Fiscal Compact
    • EP Fact Sheet

15. Cyprus bailout adopts “bail-in” bank resolution approach

    Mar 25, 2013Labels: Cyprus, Bail in

    • DW Cyprus
    • DW Cyprus 16

16. EU “Two-Pack” budget oversight rules enter into force

    May 30, 2013Labels: Two-Pack, EU

    • EP Fact Sheet

17. Greece’s third ESM programme begins, extending crisis management

    Aug 19, 2015Labels: Greece, ESM programme

    • EU Council
    • EP Briefing