Eurozone

Example:The eurozone crises of 2009-2012 revealed significant economic challenges for the union, leading to austerity measures and bailouts in several countries.

Definition:Periods of economic downturn or financial difficulties affecting Eurozone countries due to various economic factors such as high government debt, inflation, and economic imbalances.

Example:Poland and the Czech Republic were considering joining the eurozone, which could lead to its expansion and strengthen the union economically.

Definition:The process of adding new member states to the Eurozone, thus increasing the geographical and economic scope of this monetary union.

Example:Countries in the eurozone periphery, such as Greece and Portugal, often require support from other EU member states to stabilize their economies.

Definition:Countries within the Eurozone that are perceived to be more financially vulnerable or less economically robust compared to core countries like Germany and France.