Causes of the eurozone crisis: a summary

The causes of the eurozone crisis are summarised in this two-page overview, which examines why Greece, Ireland, Portugal, Spain and Cyprus have had to take emergency loans - or "bailouts" - from other eurozone and EU governments and the IMF.

Over the past few years a number of countries in the eurozone – Greece in May 2010 and February 2012, Ireland in November 2010, Portugal in May 2011, Spain in July 2012 for its banks and Cyprus in May 2013 – have been forced into taking emergency loans – or "bailouts" – from other eurozone and EU governments and the IMF. Some of the key causes of the eurozone crisis include:

• one-size-fits-all monetary policy;

• misplaced confidence and assessment of risks;

• economic divergence and trade imbalances;

• response to the crisis;

• country-specific factors.