Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to an agreement 20 years later to set up a “fiscal compact” among countries using the single currency.
Prime Minister George Papandreou struggled to hold on to power after Greece’s largest opposition party rebuffed his overtures to form a national unity government, raising the prospect of elections that could delay aid needed to prevent default.
Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to today’s European Central Bank press conference.
Greek Prime Minister George Papandreou agreed to step down to allow the creation of a national unity government that will secure international financing and avert a collapse of the country’s economy.
"Europe is maybe out of the woods but it's still raining hard."
- George Papandreou on May 14, 2014
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