Euro Crises: Annotated Bibliography

Euro Crises

An Overview

Report By: Sumeet Singh (140103167), Gaurav Prakash (140103065) Ankit Kaushik (140101023), Sakshi Gupta (140101140) Sonal Chotrani (140103162), Sabyasachi Rana (140101137) Manish Rathore (140102072)

Program & Batch: PGDM 2014-2016
Term: 3
Course Name: International Trade and Finance
Name of the faculty: V J Sebastian
Topic/ Title : Euro Crises- An Overview
Original
or Revised Write-up: Original
Group Number: 6
Contact No. and email of Group Coordinator: 7042717417 ft14sumeetsingh@imt.ac.in Group Members: Sl. Roll No. Name 1 140101140 Sakshi Gupta 2 140102072 Manish …show more content…
• The difficulties in the plan should be taken care off. However, the public responses to such plans have not been good in the past and we need to be careful in implementing them and be ready to draw maximum support.
• The cost incurred for implementing these plans should be equally divided among all countries so that neither of them feel that injustice is done.
• The problems that developed in Europe had Greece as the major problem creator rather than being just a part of an isolated system.
• The European Union could not keep a close watch at its different countries so as to present the condition which arise out of Euro crises.
• The EU was of the view that one nation must be allowed to review the budgets of other nations so that verification of compliance with the agreed goals can be done.
• It is not only the budget problems that have to be scrutinised but also in GDP and productivity growth, balance of payments and main economic indicators.
• The low diligence showed by Greece could have been pre-verified before its entry into the European currency union. The thinking that went behind the union surely failed to realise …show more content…
Higher than expected deficit levels erased investor confidence, causing bond spread values to rise to unmanageable levels. Fears quickly spread that the fiscal positions and debt levels of a many Eurozone countries could not be sustained. In May 2010, Eurozone governments gave a financial assistance to Greece.
Investors have become progressively tensed about public finances in Ireland and Portugal as well as their bond spreads rose above a certain level, these two countries also requested European-IMF for financial assistance. Finally they got the assistance in December 2010 and May 2011, respectively.
European leaders and institutions have pursued a set of unique policy measures to respond to the crisis particularly to Italy and Spain. These two are the third- and fourth-largest economies in the Eurozone.
The economic crisis had gradually become a political crisis. In the strong economies that have been giving financial assistance to the weaker economies, there had been anger against what is perceived as “bailing out” the countries that have not succeeded to implement “responsible” policy

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