Author's Name:	Hilal Yildiz & Durmus Çagri Yildirim
Subject Area:	Social Science and Humanities
Subject	Economics
Section	Research Paper

Global Financial Crises, Financial Sustainability, Eurozone, Pre And Post Crisis Period, Panel Data Analysis.

2008 crisis shows that the countries especially European countries should monitored financial stability as well as price stability. In other words the financial stability becomes more important issue after the crisis. While financial stability of union members is important to monitor in the post-crisis period, the comparison of pre-and post-crisis period provides an opportunity for a better understanding of the impact of the crisis on financial stability. The purpose of our study is whether to provide financial sustainability for the European Monetary Union member states in the pre-crisis and post-crisis period. In other words, in terms of financial sustainability pre and post crisis periods will be compared. We examined the primary surplus and debt relation in Eurozone explanations of the differences for after and before 2007 (2002-2007 and 2008-2012 periods). According to test results, primary surplus has the negative affect on the debt for two periods. But in the second period, the power of this affect is increased. In the first period, the coefficient of the primary surplus is statistically significance at 10%. However in the second term, the coefficient is statistically significant at 1%. In both of the periods, the primarysurplus has negative impact on debt. The negative impact is increased after 2007.