Can EU beat economic crisis? Yes they can I hope
Europeans are known for their Innovation and Invention.Without doubt they gifted great Inventions and discoveries to the world.After the WW-II they built European Union and started free trading Commerce and common currency Euro again they built Fortress Europe and a dominant force on Global map.Last century they had their colonies across the globe, assured source of raw material supply but they lost and third world emerged as a new bloc.If they cooperate with third world and coupled economically and offer technologies then they can come out of crisis.
Hello pramodgokhale, unfortunately the answer to your question is NO. What they can do, and are attempting to do, is to extend the time table to failure. One of the major problems with the EU is that it is built around 32 sovereign nations, of which some are weaker financially, some are more socialist than others, some are more fiscally responsible and some of the EU countries are simply parasites that feed off healthy economies. In addition most of the EU countries are broke and in terribly high debt, with unsustainable liabilities.
Think of a country like Greece where upon 1:5 workers is employed by the government. That is not a model designed for success.
For instance, Greece feeds off of Germany, whereupon Greek hairdressers can retire at age 50 because their occupation is considered "hazardous". But Greeks can only retire at 50 because Germans are forced to work until they are 67 years old. Certainly, Germany's economy is much more dynamic and capitalist based, relative to the socialist Greek State.
Hence, this type of business, political and economic model cannot be maintained because it is built on a false Keynesian economic model which asserts that wealth and prosperity can be achieved by governments spending money, as opposed to private individuals seeking opportunity via private enterprise.
Friend - The economic crisis is from the North Pole to the South pole and not just in the EU.
Too me, the situation has got to a point where we as mankind have learned what small good traits can be found in both socialistic government as well as democratic governments systems. Both are obviously good in some ways and flawed in others. Capitalism too has both good points and bad.
It is time we went back to the drawing board and developed a system that is brand new. Back to zero wiping the slate clean. We have the technology, we have the skilled man power, we have the potential leaders who can take the good points from all past systems and develop a way of life for all mankind. One that could take us as a whole to explore the universe.... one that could take mankind back to zero and develop a new man from hte inside out. Building character instead of things, while we advance in science at the same time.
I whole new system from the North Pole to the South pole needs to be developed and the time is now to get'r done!
The EU can beat the economic crisis. All economic figures of the EU as a whole and Euroland in particular are not in bad shape.
The question is: Will the EURO survive the crisis? Answering that question is more difficult. The major reason for the economic crisis is debt. Debt comes from consuming more than producing. There are economies in the EU, who produce more than consume, and there are others who do the opposite. If those types of economies are forced to coexist in the box of the EU, that will lead to tensions and it does. Unfortunately with creating the EURO and Euroland an important toolkit to ease and balance the productivity and debt discrepancies was eliminated, the floating currency exchange rate.
So if eventually the EURO goes bust, the EU as a whole will survive. I would give that statement a 80% probability.
If the EURO is kept in place, the outcome is more bleak for the EU, le me give it 20% chance.
Chris: the Euro is the EU, therefore if he Euro collapses so to does the EU, the currency their only commonality. In the end its a balance of power and sovereignty issue. Productive countries will NOT relegate their citizens to slavery for the EU
Lions Den: The EU exists for half a century, the EURO and the Eurozone only for a decade. You need the EU to have the EURO, but not necessarily the EURO to save the EU.
For all practical purposes, without the Euro -- what's the point of the EU-free travel of goods and people between European countries?Obviously the EU will survive b/c European countries will survive, but not as a united economic global power.
The EU never was a united global power. The EU is a club economies, who share the same continent, same borders. Not much more. Did work without the common currency and will work without.
Chris, I stated "economic" global power and yes they have been united since the introduction of the Euro -- hence the term Eurozone. We'll agree to disagree on this issue. History shall determine the matter.
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