?a??? p??s?????�e p??? t? t???? t?? e???????? t??t?? p?????��at??, ??e? ?? p?e???? a??????? t?? s???t?se?? ?a? t?? p??et??�as?e? ??a t??...
ep?�e?? ?�??a. ??�????s? ?a? da?e?st?? s?�f????? st?? d?�?s?e? d???se?? t??? p?? e?? ??a ????s??? ?�a?? �???? t?? 20 ?????st??, t?te ? ???a ?a ep?st???e? st?? ?a??????t?ta. ???? p?? ?a e??a? �?a ?a??????t?ta d?af??et??? ap? a?t?? p??� e??a�e s?????se? �???? t? 2009.
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? ep??? �et? t? �??�???? ??a t?? ????da de? ?a ??e? �??�????, ??at? ?a�?a ??�????s? de? ???e? ?a da?e?se? e? ???? st? ???a �a?. St???? e??a? ? ??�????s? ?a �p??e? ?a e??p??et?se? t? te??st?? ????? �e ?d?a �?sa: ?e te??st?a p??t??e?? p?e???s�ata, �e ?s?da ap? t?? ap???at???p???se?? ?a? �e t?? da?e?s�? ap? t?? a????? ?efa?a???.
?p?s??, se a??�? ??a st???e?? p?? s?�f????? ????, e??a? t? ?t? de? ?a ?p???e?� t????a. ?? ??? ap?????se ??s?ast??? ap? t? 2014, ?ta? ?a? e?ta�?e?se t?? te?e?ta?a t?? d?s? p??? t?? ????da, ?a? ?a ap?????se? ??s?ast??? �e t? ???? t?? p?????��at??. S?�f??a �e t?? ef?�e??da �?a??�e????�, ? ??? ep?s?? de? ???e? ed? ?a? ?????a ?a s?��et??e? st?? t????a. ?d? ap? t? 2013 a???�at????? t?? e??f?a?a? ep?f????e?? ??a t?? e�p???? t?? st?? ep?t???s?, ?p?st??????ta? p?? e?a?t?a? a?t?? pe????????ta? de facto ? a?e?a?t?s?a t?? ?a? ?? ep?????? t??.
?e ???a ????a, st?? 21 ?????st?? de? ?a ?p?????? ??te ??? p????a��a ???�at?d?t?s?? ??te t????a. ??t? ta d?? st???e?a, p?? s?��??????? t?? pa??????s? ap? t?? ?a??????t?ta, ???? t?? ??e???p?a? t?? ???a? t? 2010, ?a e??e?????.
? ????da ?a??� pe??a�at????
? ?a??????t?ta, ?p?? a?t? ????eta? ap? t??? e???pa???? a???�at??????, de? ?a ??e? ?a�?? ap???t?? s??s? �e t?? ?a??????t?ta p?? ?????sa�e �???? t? 2009 ?ta? ?a? ? ???a e?s???e sta �??�???a.
? e???????, �?sa ap? t?? ???s? ?a? t? ??e???p?a �a?, ???�ase. ? ??t?a �? d??s?s?? ???t???-�????? p?? ?p???e st? S?????? t?? ??sa�??a? (no bail-out clause) a? ?a? t?p???? ?s??e?, st?? ??s?a ??e? ?ata????e?. St????a? d?? �??a??s�?? d??s?s??, ? EFSF st?? a???, ? ESM a???te?a, ??a ?a ???�at?d?t?s??? p?????��ata �???e?a?, ta ?p??a s?ed??st??a? ad hoc, �e �?s? t?? a????e? t?? ????da? ?a? t?? ????? ??at??-�e??? p?? ?�e??a? e?t?? a?????.
S?�e?a, ? ???????? �??s?eta? se a?a??t?s? �?a? ??a? ?a??????t?ta?, st???e?a t?? ?p??a? ?a e??a? ?a? ?? ??e???p?e? ??at??, ?? ?a???e? ???�at?d?t?s??, ? �??a??s�?? ep?pte?a? p??, ?at? t? d????e?a ?a? �et? t?? ????????s? e??? p?????��at?? d??s?s??.
? ????da, �????ta? te?e?ta?a se p????a��a, p??sf??eta? ??a ?a d???�ast??? ?d?e? ?a? se????a t?? ??a? �eta-p????a��at???? ?a??????t?ta?. St?? p?a?�at???t?ta ?a e??a? ??a �?a a??�? f??? ? �p??s???a?. ?? ?a???e? p?? ?a d?a�??f????? �e af??�? t?? pe??pt?s? �a?, ?a ?s??s??? st? �????? ??a ?p???d?p?te ???? ???t??-�???? �?e?e? se ad??a�?a ???�at?d?t?s?? ap? t?? a????.
? ??? ?a? t?s? �?�??d???� p??tas?
???a e??a? ta �???? st??�?? ded?�??a; ? ep?�e?? �??a de? ?a ??e? ??a d??e?a ap? t??? ep?s?�??? p?st?t?? �de? ?a ??e? a????e????, ?a �p????se ?a pe? ??p????�, a??? ?a ??e? ep?pte?a.
??? p??????�e?? e�d?�?da, ????pa??? a???�at????? e?pe ?t? p??a??? ? ep?pte?a (ap? t?? ESM, t?? ??�?s??? ?a? t??? d??;) ?a pa?a??????e? t?? ???p???s? s???e???�???? �eta????�?st???? st????, ? ep?te??? t?? ?p???? ?a e??a? p???p??es? ??a t?? e??f???s? t?? ???????. �?�??d???� ?a?a?t???se ? a???�at????? a?t? t? �??t??? t?? e??d?? ap? t? �??�????. ??? ?a? t?s?. ??? ???t?? t?? 2012, ??a st??e??? �t?te� t?? t????a? p??e e?t??? ?a e?et?se? p?? �p??e? ?a d?????e? st?? pe??pt?s? t?? ????da? ?a? t?? ????????? t? p????a��a HIPC (Heavily Indebted Poor Countries) p?? e?s??a?a? ap? t? 1996 ??? ?a? ?a???s�?a ???pe?a. ?e t? HIPC, ?? p?st?t?? �???t? ?a? ?d??te?� t?? af???a????? ????? d????ta? e?e???t??? t? �????e�a� t?? apa?t?se?? t??? ?p? t?? a??es? ?t? efa?�????ta? �eta????�?se?? ?a? ep?t???????ta? st????. Fa??eta? p?? ? p??e??as?a p?? ??a?e e?e???? ? ?????t???? ?p??????? p?? 5et?a? de? ?a p?e? ?a�???...