Global Journal of Management and Business Research, D: Accounting and Auditing, Volume 22 Issue 2

Source: Bloomberg, 2014 Figure 4: 5y-Credit Default Swap Greece Source: Bloomberg, 2014 Figure 5: 5y-Credit Default Swap PIIS compared to Germany Beside the bond market, these circumstances weakened the Eurozone and its common currency the euro. The whole system of the EMU was questioned and as a sign of increased concerns about the future instability of the Eurozone, the Euro to US-Dollar exchange rate depreciated massively (Figure 6). Source: Bloomberg, 2014 Figure 6: Euro/Dollar Fluctuation Lessons Learned from European Sovereign Debt Crisis 58 Global Journal of Management and Business Research Volume XXII Issue II Version I Year 2022 ( )D © 2022 Global Journals