Thursday, August 4, 2011

European-Debt-Crisis


''..A United Europe

As the situation in Greece continues to unfold, the fear of default and its consequences remains throughout the European Union. While Greece represents a mere two percent of the overall EU economy,17 what if their default spreads to other more prosperous countries such as Spain or Italy? Such an event would be cataclysmic for the EU and would make this as much a political problem as an economic one.18

In addition, if Greece decides to go “Full Argentina” and drop the currency altogether, what would prevent other countries from doing the same?19 In the end, the best solution for all parties is the continued cooperation between countries within the EU to help Greece out of its current situation. This would not only help keep the Union together, but also prove to the world that Europe remains united and is committed to helping its members brave any major crisis..'' 
European-Debt-Crisis

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