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The European Sovereign Crisis first showed signs in 2009 in Greece The country has been falling in debt prior to that for years until there was no turning back and the economy went downhill Greece started pulling other countries with it in to debt countries like Spain Italy Ireland all followed this path This happened because the countries are all interconnected economically as they are the European Union The strongest of the European economies Germany and France are still holding strong in the AAA list debt rated countries by the Standards and Poors Standards and Poors is an American company that publishes stock market analysis and other economic research AAA rating is the highest and it means that the country has the best possible economy AA is not bad but could be better and there are other rankings The European Union had to come up with bailout packages for Greece borrowing money from other countries that are in the Euro Zone union Hoping that this will stabilize the economy the Union came up with huge bailouts packages But in 2010 Greece fell in to crisis again and so did other countries Realizing that Spains and Italys economy is too large to save the government couldnt do much There is still some hope though thanks to the main power of the European Union economy Germany France also is not far behind with a well stabilized economy but for how long could they lastRecently Frances financial buildings and banks credit ratings were in danger to be lowered Bank shares dropped and the stock market fell significantly Even though there is a possibility of economic trouble for France in the future their rating right now is stable As predicted by Standards and Poors In the future the AAA rated countries including France should have their debt somewhat stabilized at least better than the United States But they are still not in the clear the failure of bank and
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