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Moving photos reveal impact of Europe's financial crisis

Last updated on: February 27, 2012 15:18 IST

Moving photos reveal impact of Europe's financial crisis

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The European sovereign debt crisis is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to re-finance their government debt without the assistance of third parties.

From late 2009, fears of a sovereign debt crisis developed among investors as a result of the rising government debt levels around the world together with a wave of downgrading of government debt in some European states.

The net result is that many in Europe are finding it difficult to survive the harsh economic times.

Let's take a look through photos how some are being thrown out of their homes after failing to meet their mortgage payments.

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Image: Crisis has made it impossible for some countries to re-finance their debt.
Photographs: Reuters
Tags: Europe

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Ronale de la Cruz and his wife Nalda look out the window of their apartment as they wait to be evicted after failing to pay their mortgage, in Madrid, February 9, 2012.

De la Cruz, an immigrant from the Dominican Republic, says he became unemployed in August 2009 and was unable to make mortgage payments, and was served an eviction notice in December 2011.

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Photographs: Reuters/Juan Medina

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Ronale de la Cruz walks through his nearly empty apartment as he waits to be evicted after failing to pay the mortgage, in Madrid.

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Photographs: Reuters/Juan Medina

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Ronale de la Cruz, right, receives a hug from evicted Malian immigrant Lamin Nomke Diallo in the hall of his apartment as he waits to be evicted.

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Photographs: Reuters/Juan Medina

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Patricia Tapia takes part in a protest against bank evictions in Madrid, February 14, 2012. Tapia has received an eviction notice on Wednesday morning after failing to pay her mortgage.

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Photographs: Reuters/Juan Medina

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Tapia embraces a woman after learning that her eviction has been suspended until March 28, in Madrid February 15, 2012.

Tapia, an immigrant from Ecuador, says she became unemployed in November 2010 and could not make her mortgage payments and was served an eviction notice in January 2012.

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Photographs: Reuters/Juan Medina

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Luisa Pinales stands in front of a bank office after requesting a dation in payment for her house in Mostoles, near Madrid on February 16, 2012.

Pinales, an immigrant from the Dominican Republic, says she could not make her mortgage payments after her business as a contractor was forced to close in 2007, and was served an eviction notice in January 2012.

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Photographs: Reuters/Juan Medina

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Pinales takes part in a human chain in front of a bank office after requesting for the dation in payment for her house in Mostoles, near Madrid.

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Photographs: Reuters/Juan Medina
Tags: , Mostoles , Europe , Madrid

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Monica Ramos and her husband Javier Narvaez, immigrants from Ecuador who were awaiting eviction from their flat, pose inside the main room of their flat before learning that the eviction had been suspended in Madrid, on February 22, 2012.

Ramos and Narvez, parents of two children, said that they could not make their mortgage payments although both have work. Ramos's lawyer reached an agreement to have the court ordered eviction suspended until next March 7.

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Photographs: Reuters/Sergio Perez

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Javier Narvaez and his mother Marta, immigrants from Ecuador who were awaiting eviction from their flat, look out from their windows before learning that the eviction had been suspended, in Madrid.

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Photographs: Reuters/Sergio Perez

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Silvia Mendez, 36, cries as her husband Javier Ramirez , 50, watches her while they wait on a street next to their flat, in face of eviction after failing to pay the rent, in Malaga, southern Spain, on February 23, 2012.

Mendez and Ramirez, who have five children and are unemployed, failed to stop their eviction and all their belongings were left inside the flat.

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Photographs: Reuters/Jon Nazca

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Javier Narvaez, an immigrant from Ecuador who was awaiting eviction from his flat, inside his home after learning that the eviction had been suspended in Madrid.

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Photographs: Reuters/Sergio Perez

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A locksmith changes the lock of the flat belonging to Silvia Mendez, 36, and her husband Javier Ramirez, after they failed to pay the rent, in Malaga, southern Spain, on February 23, 2012.

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Photographs: Reuters/Jon Nazca

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Silvia Mendez, 36, and her neighbour cry as her husband Javier Ramirez, 50, watches them as they wait on a street next to their flat in face of eviction after failing to pay their rent, in Malaga, southern Spain.

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Photographs: Reuters/Jon Nazca

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Olga Teresa Cabrera Maza pours coffee in a glass as she waits to be evicted after failing to pay the mortgage in Madrid, on February 22, 2012.

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Photographs: Reuters/Susana Vera

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Olga Teresa Cabrera Maza reacts as she hears the news that her eviction has been suspended until March 18, in Madrid on February 22, 2012.

Cabrera Maza, a 48-year-old immigrant from Ecuador, said she stopped making her mortgage payments in June 2010 when she underwent serious health problems that resulted in her permanent incapacity.

Unable to work, she lacked enough money to pay the mortgage and was served her first eviction notice in June 2011.

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Photographs: Reuters/Susana Vera

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