the eurozone's biggest-ever crisis
DESCRIPTION
The problem The problem countries The cutbacks The European solutionsTRANSCRIPT
The Eurozone’s biggest-ever crisis
Maarten Thomas
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1. The problem2. The problem countries3. The cutbacks4. The European solutions5. Conclusion
Index
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Economic recession
Growing government deficit & national debt
Financial problems Greece
Lower appreciation Euro
The problem
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Portugal
Italy
Ireland
Greece
Spain
The problem countries
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Necessary to repair confidence
European supervision required
Critical point:
They hit the ordinary citizen Could slow down economic recovery Businesses get less government tasks Decreasing purchasing power
The cutbacks
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The European Stability & Growth Pact
Maximum government deficit
The European Financial Stability Facility Temporary need fund permanent need fund
Plan Merkel & Sarkozy Tighten up supervision Punishing
The European solutions
New measurements
Part of Greeks debt acquitted Need fund needs to grow Supervison of the government finances will be
tightened up Banks must keep more money in cash
The European solutions
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Outlook is gloomy
Last wake-up call
Determined action is needed
Conclusion