Five countries have all announced bailouts -- Greece , France , Portugal , Spain and Italy . Katainen said the crisis is serving as a ` ` very hard blow '' to many eurozone countries . A monetary union proposed by the European Central Bank that will become active in 2014 .
Five countries have all requested bailouts -- Greece , Ireland , Portugal , Spain and Cyprus . Katainen said the crisis is serving as a `` very hard lesson '' to many eurozone countries . A banking union regulated by the European Central Bank that will become active in 2014 .