Euro, when markets attack by Jean-Michel Meurice - 52’ - 2010

CAMERA AND SOUND

Arte (France/Germany)

In 2010, the sovereign debt crisis almost pushed Greece into bankruptcy, paralysed Spain, Portugal and Ireland and almost toppled the euro. The Union finally helped the most threatened eurozone States and saved its currency. This crisis has had a very high cost for European citizens – the cost of public debt has exploded for some countries and governments have had to adopt austerity measures, of unprecedented harshness, in order to reassure the markets. But why the latters suddenly turned away from the Eurozone? Euro, The Market attacks! retraces the six months of clashes between the States, and between the States and the markets: Jean-Michel Meurice and Jean Quatremer have explored the origins of the crisis and the way it was managed by the Union, whether a “market conspiracy” might have existed, and the risks to the euro. Does the Union have the means to withstand a new attack from the markets?