Question

How did the European Union respond to the 2009 economic crisis?

Answer 1

The European Union acknowledged the ongoing financial crisis and pledged to rein in all the EU members as well as the member states' central banks to collaborate and assist all the companies that were facing difficulties with liquidity. The EU also called for the credibility of the financial system which would help to put this situation to a halt.

Answer 2

Answer:

provided loans to countries that could not pay their debts.

Explanation:

According to a different source, these are the options that come with this question:

• provided loans to countries that could not pay their debts.
• re-imposed trade restriction on the hardest hit nations.
• refused to admit new members to the union.
• mandated that member nations adopt the euro as their currency.

One of the ways in which the European Union responded to the 2009 economic crisis was by providing loans to countries that were unable to pay their debts. During this economic crisis, several European countries struggled to be able to repay or refinance their debts, or to bail out banks that were deeply indebted. Because of this, the European Central Bank (ECB) and the International Monetary Fund (IMF) provided loans to countries such as Greece, Portugal, Ireland, Spain and Cyprus.