The financial crisis of the last few years led to the eurozone crisis. Recently, there have been signs that the EU - and the Eurozone itself - is making progress in terms of solving some of the underlying problems. Certainly in those countries that have received 'bailouts' the conditions of the financial aid have forced them to address macroeconomic issues that have ben holding back productivity development.
The problem is hat Europe is addressing its problems just as public confidence in the European ideal is at an all-time low. Those undergoing 'austerity' programmes see the EU a being to blame. Those financing the bailouts see Europe as an expensive planning of a small number of politicians. others are concerned about the lack of accountability for European budgets and spending.
The dream has soured just as the offices of Europe are starting to shape a sustainable economy.
Perhaps the changes are too little, too late. Perhaps the productivity gaps between the Northern and Southern European nations are too wide to close before the whole edifice comes tumbling down.
The problem is hat Europe is addressing its problems just as public confidence in the European ideal is at an all-time low. Those undergoing 'austerity' programmes see the EU a being to blame. Those financing the bailouts see Europe as an expensive planning of a small number of politicians. others are concerned about the lack of accountability for European budgets and spending.
The dream has soured just as the offices of Europe are starting to shape a sustainable economy.
Perhaps the changes are too little, too late. Perhaps the productivity gaps between the Northern and Southern European nations are too wide to close before the whole edifice comes tumbling down.
Posts
No comments:
Post a Comment