THE CRISIS FROM THE EUROZONE
The implosion of the European financial system? The global financial crisis – which still fumes – completed by a series of adjectives: economic, moral, social, political, has shaken the intelectual and political elite causing strong debates and the analysis of the causes, effects and, especially, th...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2012-12-01
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| Series: | Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice |
| Subjects: | |
| Online Access: | http://studiaeconomia.uvvg.ro/index.php?option=com_content&view=article&id=281:the-crisis-from-the-eurozone&catid=40:2012-partea-4&Itemid=71 |
| Summary: | The implosion of the European financial system? The global financial crisis – which still fumes – completed by a series of adjectives: economic, moral, social, political, has shaken the intelectual and political elite causing strong debates and the analysis of the causes, effects and, especially, the solutions of this true ”cyclone”. Some preached even the end of the world for the beginning of another world! It is unanimous the idea according to which the fool monetary system of the world must be deeply re-formed/restructured, not only tamed. For the European Union, the critical problems appeared on the ground of national debt crisis. The countries burdened by national debts – Greece, Spain, Portugal etc – can break down in a conflict - caused by the dilemma who will pay: tax payers, bankers, public sector’s employees, investors! There is the major risk of breaking out a monetary and commercial ”war” as soon as governments face the population rage as consequence of the decrease of incomes and increase of unemployment. Eurozone and European Union are in danger. Profound crisis, institutional block and the lack of efficient solutions will become chronic, and the lack of trust of people in politicians and in the European project will increase. |
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| ISSN: | 1584-2339 2285-3065 |