The European debt crisis could weigh on the world economy for years, forcing policy makers to rethink their approaches to restoring growth and boosting job creation, the World Bank's new chief economist said in an interview Monday. Link
The current crisis within the EuroZone is obviously not only effecting the countries within the group specifically, but nations throughout the world. This article discusses the changing of a global economy into one economy with the respect to how countries are dependent on each other. The debt crisis will undoubtedly have a longstanding effect for years, but people call for policy changes now to re-evaluate how other countries are impacted.
Any ideas on how these policy changes can be implemented or on the crisis itself?
There seems to be only one clear cut way out. Break up the Eurozone. The whole idea of all of them getting together was to boom as a unit, but now they are busting as a unit. If everyone backs out, the weaker nations sink individually. Although this is not equitable, it is like a reset button. Obviously hard times are coming one way or another, but I say the discussion as far as a recovery effort goes it whether to rip it off like a bandaid or watch the mess slowly lose its inertia like a car in a crash.
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