Eurozone Debt Crisis Sparks Economic Turmoil in Greece and Italy.
The government debt crisis in some Eurozone countries like Greece and Italy has caused economic problems like recession and unemployment. Factors like government ineffectiveness and high public spending contribute to this crisis. The study used statistical models to show that these factors increase a country's debt-to-GDP ratio. Additionally, lack of rule of law and low domestic credit to the private sector can also lead to a government crisis in Eurozone countries.