The taking of the liabilities of others as in a merger: Assumed debts are liabilities which a company takes over or comes into possession of when it fuses with another company that has such commitments.

flaws:
resurfacing:
debt crisis :

When the rules for the euro were first drafted 15 years ago, the leaders of France and Germany had to compromise even to agree on its name: Berlin wanted a 'a stability pact,' emphasizing Germanic fiscal discipline, while the French leaders insisted on adding 'growth' to the title to make it more palatable to their voters."