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| The '''[[eurozone crisis]]''' that started in 2010 arose from doubts about the ability of some eurozone governments to service their debts. .
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| The financial assistance given to those governments has failed restore the confidence of the markets, and bond market investors have become reluctant to buy the bonds being issued by some other eurozone governments. There are uncertainties about the willingness of the major eurozone governments to provide the further assistance that may be needed, and fears that there may be a breakup of the eurozone and a global financial crisis if they do not.
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| | | ==Footnotes== |
| ====Overview==== | | {{reflist|2}} |
| The crisis started early in 2010 with the revelation that, without external assistance, the Greek government would be forced to default on its debt. The assistance that was provided by other eurozone governments enabled the Greek government to continue to roll-over maturing debts until, in the latter half of 20ll, it became evident that a default could no longer be avoided. In the meantime, investors' fears of default had increased the cost of borrowing to other eurozone governments, making it necessary to provide financial assistance to the governments of both Ireland and Portugal. By September 2011, the international community had become aware of the danger that a Greek government default, and that its repercussions could administer a shock to the world economy comparable to the shock that triggered the Great Recession. Plans were initiated to provide the financial support needed to avoid a comparable malfunction of the global financial system. Substantial political obstacles would have to be overcome before such plans could be put into effect.
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| ====Background to the crisis====
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| In 1991, leaders of the 15 countries that then made up the European Union, set up a monetary union with a single currency. There were strict criteria for joining (including targets for inflation, interest rates and budget deficits), and other rules that were intended to preserve its members' fiscal sustainability were added later. No provision was made for the expulsion of countries that did not comply with its rules, nor for the voluntary departure of those who no longer wished to remain, but it was intended to impose financial penalties for breaches.
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| Greece joined, what by then was known as the eurozone, in 2001, Slovenia in 2007, Cyprus and Malta in 2008, Slovakia in 2009.
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| The current membership comprises Belgium, Germany¸ Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, The Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland. Bulgaria, Czech Republic.
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| The non-members of the eurozone among members of the European Union are Denmark, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Sweden and the United Kingdom.
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| ''[[Eurozone crisis|.... (read more)]]''
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| | In addition to the above text, this article comprises:<br> - a [[Eurozone crisis/Addendum#Crisis development by country|'''country-by-country summary''']] of the development of the crisis;<br> - [[Eurozone crisis/Timelines|'''links to contemporary reports''']] of the main events of the crisis;<br> - notes on [[Eurozone crisis/Tutorials#The debt trap|'''the debt trap''']], the eurozone's departures from [[Eurozone crisis/Tutorials#Departures from optimum currency area criteria| '''optimum currency area criteria''']], and on [[Eurozone crisis/Tutorials#The eurobond proposal|'''the eurobond proposal''']]; and,<br> - tabulations of the [[Eurozone crisis/Addendum#Fiscal characteristics|'''fiscal characteristics of the PIIGS countries''']] , and their [[Eurozone crisis/Addendum#GDP growth|'''GDP growth rates''']]
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Latest revision as of 09:19, 11 September 2020
Paramhansa Yogananda circa 1920.
Paramhansa Yogananda (5 Jan 1893–7 Mar 1952) was one of the first Indian teachers from the Hindu spiritual tradition to reside permanently in the West, and in particular, he was the first to teach yoga to Americans. He emphasized the universality of the great religions, and ceaselessly taught that all religions, especially Hinduism and Christianity, were essentially the same in their essence. The primary message of Yogananda was to practice the scientific technique of kriya yoga to be released from all human suffering.
He emigrated from India to the United States in 1920 and eventually founded the Self-Realization Fellowship there in Los Angeles, California. He published his own life story in a book called Autobiography of a Yogi, first published in 1946. In the book, Yogananda provided some details of his personal life, an introduction to yoga, meditation, and philosophy, and accounts of his world travels and encounters with a wide variety of saints and colorful personalities, including Therese Neumann, Mohandas K. Gandhi, Luther Burbank, and Jagadis C. Bose.
Paramhamsa, also spelled Paramahamsa, is a Sanskrit title used for Hindu spiritual teachers who have become enlightened. The title of Paramhansa originates from the legend of the swan. The swan (hansa) is said to have a mythical ability to sip only the milk from a water-and-milk mixture, separating out the more watery part. The spiritual master is likewise said to be able to live in a world like a supreme (param) swan, and only see the divine, instead of all the evil mixed in there too, which the worldly person sees.
Yogananda is considered by his followers and many religious scholars to be a modern avatar.
In 1946, Yogananda published his Autobiography of a Yogi. It has since been translated into 45 languages, and in 1999 was designated one of the "100 Most Important Spiritual Books of the 20th Century" by a panel of spiritual authors convened by Philip Zaleski and HarperCollins publishers.
Awake: The Life of Yogananda is a 2014 documentary about Paramhansa Yogananda, in English with subtitles in seventeen languages. The documentary includes commentary by George Harrison and Ravi Shankar, among others.[1][2]
