Özet:

The 2008 Mortagage crisis in the U.S. soon became a global state and affected other developed countries as well. As a result of the global crisis, unemployment, inflation, public debt have increased in the Eurozone countries and the currency balance has been negatively affected. The impact of the crisis in the Eurozone, referred to as the "PIIGS" shortage, has been more felt compared to the other member countries in Portugal, Italy, Ireland, Greece, Spain. The aim of this study is to focus on the impact of the PIIGS countries in the euro area on the macroeconomic imbalances in the pre- and post-crisis period and on the PIIGS countries. The basis of the crisis in the PIIGS countries is macroeconomic imbalances as well as various systemic causes resulting from the formation of the Economic and Monetary Union (ECB). Conditional aid packages have been provided with the IMF-AMB partnership for the PIIGS countries that have difficulty paying their debt. In exchange for the conditional aid packages, the countries were asked to implement a belt-tension policy. The measures taken after the 2008 crisis increased that the negative economic effects of the crisis would be reduced. Savings measures have shrinked the economies more and deepened the crisis. This is why the dynamics of the crises are important.

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