Historical Year Data · 2012
France Credit-to-GDP Gap in 2012
France Credit-to-GDP Gap opened 2012 at 9.4 and closed at 8.1, a -13.83% move for the year. The high of 10.2 was reached on June 30, and the low of 8.1 on December 31.
Open
9.4
2012-01
Close
8.1
4 data points
High
10.2
Jun 30
Low
8.1
Dec 31
Full Year Change
-13.83%
2011 Change
+45.00%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Mar | 9.4 | 9.4 | 9.4 | 9.4 | +0.00% |
| Jun | 10.2 | 10.2 | 10.2 | 10.2 | +0.00% |
| Sep | 8.9 | 8.9 | 8.9 | 8.9 | +0.00% |
| Dec | 8.1 | 8.1 | 8.1 | 8.1 | +0.00% |
Events During 2012
2010 European Sovereign Debt Crisis
Deflation
April 2010 – July 2012
Greece's debt revelation in October 2009 triggered a multi-year eurozone crisis that threatened the euro's survival. Greece, Ireland, Portugal, Spain, and Italy required emergency support. Mario Draghi's "whatever it takes" in 2012 ended the acute phase.
2012 Draghi "Whatever It Takes" Moment
Reflation
July 26, 2012
ECB President Mario Draghi's July 26, 2012 speech in London ended the acute eurozone crisis. The commitment, backed by Outright Monetary Transactions, arrested peripheral yield spikes without buying a single bond.
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