Collapse of the European Union

The Collapse of the is a significant event in Call of Duty: Black Ops III. The event is chronicled in the game's Omnipedia and occurred from 2020 to 2025. 
==Timeline of the Collapse==
===Financial Woes===
The Great Recession of 2008-2018 caused many of the EUs member states to still be struggling by the close of the 2010s and the (ECBs) cash reserves were running low. On 4th January 2020, Greece failed to secure an additional 4th round of bailout funding from the ECB. Following 3 months of civil unrest, the Greek Government announced it would default on its debt and return to the as its official currency. 
This sent shockwaves through the rest of the Eurozone; Italy would leave the EU by August and Spain by October of the same year. 
===Deepening Economic and Political Crises===
By mid-2021 the European economy was suffering rapid inflation. Government terms in Greece, Spain and Italy were short (Italy held three general elections in 2022 alone) and extremist politics was on the rise. 
Between 2021 and 2025, member states with smaller economies (Poland, Romania, Hungary and Ireland) would ultimately have little option but to default on their debts to the ECB and exit the .
===End of the Eurozone===
By 2025, the EU still was struggling with economic crises and France and Germany feared the collapse of the ECB. Thus on 14th March, both nations announced their withdrawal from the EU.
The withdrawal of the Eurozone's two economic powerhouses caused the Euro to crash overnight, losing 68% of its value over a single day of trading and closing at a value of $0.37. International trading of the currency was suspended and the ECB placed into receivership.
===End of the European Union===
With a substantial amount of Europe's wealth wiped out, and many international observers predicting the organisation's inevitable end, on the 28th of April 2025 the and the were both dissolved, formally dissolving the Union and returning its member states to their native currencies; the Euro's value at this time was just $0.19. The EU would finally disband on September 17th.
Category:Call of Duty: Black Ops III World Events