Different countries got into difficulty for different reasons. Portugal, Greece and, to an extent, Italy borrowed to keep paying for inefficient public sectors. Ireland's government promised a massive bailout for its banks. Spain tried to avoid doing this, but ended up having to bail out its provincial banks.
(This is, of course, a simplified answer, but I think it captures the basics!)
Underlying all these was the odd fact that until 2007 nobody really differentiated between different Eurozone countries' debt - it was all just in Euros and attracted the same rate of interest.
Romain,
Different countries got into difficulty for different reasons. Portugal, Greece and, to an extent, Italy borrowed to keep paying for inefficient public sectors. Ireland's government promised a massive bailout for its banks. Spain tried to avoid doing this, but ended up having to bail out its provincial banks.
(This is, of course, a simplified answer, but I think it captures the basics!)
Underlying all these was the odd fact that until 2007 nobody really differentiated between different Eurozone countries' debt - it was all just in Euros and attracted the same rate of interest.
Hope this helps
Chris West