Complex sentence: Much of the economic growth in the 1980s was based on debt financing, and the debt defaults led to a savings and loan crisis.A total of over 10 billion euros were used to bail out failing banks, which led to banking sector consolidation.
Split into simpler sentences: Much of the economic growth in the 1980s was based on debt financing, and the debt defaults led to a savings and loan crisis. Total of over 10 billion euro were used to bail out failing banks, which led to banking sector consolidation.