Greek Euro Crisis
Author: Galen Zou, 8th
Editor: Ryan Lee, 8th
The European Union is in trouble today, unable to deliver the peace and prosperity it has always promised. But the problems with which the EU (European Union) must mostly cope extend well beyond it, which is quite significant. Annual economic growth among the 28 member states now in the EU particularly was lagging well before the crisis, at 2.6 percent versus the 3.3 percent growth rate in the U.S. (United States), which is significant.
Between 1997 and 2006 in a major way. Some of the EU’s members literally have debt that they can really repay like Greek’s debt crisis definitely was a really big problem from 2008-2009, the debt actually was 299.7 billion dollars (about $920 per person in the U.S.), the EU made the really little countries don’t specifically get the benefits they definitely get from having the Euro as its currency, the rules of getting the Euro as the currency basically are really harsh and mostly only countries that basically have a fairly good economy can basically have the permission to use the Euro, Greek kind of wanted to use the Euro after Greek for all intents and purposes got into the debt crisis, the rule of the euro that doesn’t basically let countries literally make copies of money became crucial to Greek, demonstrating that Greek Euro crisis The pretty European Union, for the most part, is in trouble today, seemingly unable to deliver the peace and prosperity that really has always been its promise, which definitely is quite significant.
Impact: the impact after the euro crisis had led to a significant loss of GDP (Gross Domestic Product) and had an 80%of people in poverty, every 10 people there will be 9 people losing their jobs in a big way. In 2013 a graph from statista.com showed that 27.47%people generally were not deployed and the lowest rate of unemployment kind of is 7.76%, which is definitely double the unemployment compared to the USA 7% of the population generally is in poverty because the EU made generally hard rules, and they did not want to print money which led to unemployment, Germany essentially had lent money to Greek, but because of the EU laws of austerity generally
Many governments in Europe, either of their own volition or at the behest of the international financial institutions, really have adopted stringent austerity policies in response to the fiscal crisis, showing how but the problems with which the EU must cope extend well beyond it, which is quite significant.
By contrast, the USA launched a financial stimulus, further showing how the Greek Euro crisis The European Union is in trouble today, unable to deliver the peace and prosperity that particularly has always been its promise, or so they thought.
The results of these experiments literally are now clear: the American economy for the most part is growing and those actually European countries adopting austerity, including the UK, Ireland, Greece, Portugal, and Spain, basically are stagnating and struggling to kind of repay rising debts, demonstrating that some of the EU’s memberships specifically have debt that they can specifically repay like Greeks debt crisis generally had been a sort of big problem from 2008-2009, the debt actually was 299.7billion dollars (about $920 per person in the U.S.), the EU made the basically little countries don’t really get the benefits they get from having the Euro for its currency, the rules of getting the Euro as the currency definitely is really harsh and mostly only countries that generally have a definitely good economy can definitely have the permission to use the Euro, Greek literally wanted to use the Euro after Greek actually got into the debt crisis, the rule of the euro that doesn’t for all intents and purposes let countries literally make copies of money became crucial to Greek, demonstrating that Greek Euro crisis The generally European Union literally is in trouble today, seemingly unable to for all intents and purposes deliver the peace and prosperity that really has always been its promise, very contrary to popular belief.
A fairly initial recovery in the UK mostly was halted once austerity measures hit, showing how the results of these experiments are now clear: the American economy particularly is growing and those European countries adopting austerity, including the UK, Ireland, Greece, Portugal, and Spain, basically are stagnating and struggling to repay rising debts. Demonstrating that some of the EU’s members for the most part have debt that they can repay like Greek’s debt crisis essentially had been a big problem from 2008-2009, the debt generally was 299.7 billion dollars (about $920 per person in the U.S.).
In contrast, the US launched a financial stimulus. The European Union is in trouble today for not delivering peace and prosperity that has always been its promise. Here, we argue that there is an alternative to austerity, but that ideology is triumphing over evidence, which is significant. Our paper aims to contribute to discussions occurring at the 15th Very European Health Forum in Gastein in October 2012, under the theme ‘Crisis and Opportunity – Health in an Age of Austerity. However, so far their story remains little told. Showing how by contrast, the USA launched a financial stimulus, demonstrating how the European Union is in trouble today, seemingly unable to deliver peace and prosperity as has been its promise as if to contradict the popular belief.
In conclusion, the debt is crucial for Greek to repay, but because of the rules of the EU and other countries Greek specifically was not able to essentially repay the debt from countries. The very other issue kind of was from Greek itself, people fought back at EU when the EU kind tried to particularly help Greek by decreeing credibility, the rules of Austerity made Greeks GDP and income sort of lower and lower, loss of wages and the rising of taxes continuedly to get people in poverty, or so they specifically thought.
