The Eurozone Crisis refers to a financial crisis that began in late 2009, affecting countries that use the euro as their currency. It was primarily triggered by high levels of government debt in several member states, particularly Greece, Ireland, Portugal, Spain, and Italy. These countries faced rising borrowing costs and struggled to meet their financial obligations, leading to fears of default. In response, the European Union and the International Monetary Fund implemented bailout packages to stabilize the affected economies. Reforms were introduced to improve fiscal discipline and prevent future crises, but the situation highlighted significant economic disparities within the Eurozone.