European Sovereign Debt Crisis:Evolution, Causes And Enligthtenment

European debt crisis contributed to increase the world economic volatility and pessimism, today is still wandering in times of the crisis whose outlook is not optimistic. First this article describes European economic currency union forms of theory basis and currency union of development overview; second recalls Europe debt crisis of evolution process and the effect, main including three areas:crisis of evolution process, important crisis nations’economic situation, and crisis on world economic effect; and then focuses on discussing its causes and relief trapped programme; finally analyzes the crisis on the enlightenment to China.This thesis focuses on the causes and effects of European debt crisis, which a comprehensive system of analysis is to overcome the limitation of previous scholars. For current scholars at home and abroad to focus primarily on economic analysis of the crisis status quo, the author believes that the deep causes more owing to the political level, are among the Member States own interests game, sovereign national interest and collective interests game, as well as the political elite and the citizens’political game. From the perspective of the game caused by European debt crisis, the author tries to make up for the lack of academic analysis in the past. On rescue packages, the author first investigates the exit mechanism construction mode and demonstrates exit mechanism in terms of necessity and legitimacy. Through the analysis of European debt crisis, the author expresses the hope that Chinese government can draw experiences and lessons in the crisis, and provide a sound reference for local government debt risks prevention, improvement of financial supervision system and construction of Future Asian Monetary Union, and so on.