The Euro Crises

Complete 17 pages APA formatted article: The Euro Crises. The availability of easy credit fuelled into the households and the financial sector. The Central bank of Europe managed the cross border lending. The bill of welfare took the upward rising curve when the level of unemployment deepened. Some of the countries had to launch upon in order to find money for their banks. The new expenses had to be borne by the state. The tax receipts collapsed as well. The rates of interest surged. It was assumed by the investors that no government of the Euro zone will default on account of debt before the crisis. Even some of the investors were asked to get rewarded for taking the extra risk while others walked away as they were unwilling to pay for credit crunch. All this led to bond prices to fall which weakened the banks and slowed down growth. The countries of Euro zone were following the unsustainable current account deficits from before the crisis. The domestic spending took the leap as the interest rate was low and wages and the goods got inflated. This resulted in exports being costly while the imports being cheaper. Germany was recycling the surpluses that were produced by the export machines and financed their consumption. It was anticipated that restoring the continent to its health will take few years because the troubled countries required to control the deficits of the government and reestablish the current accounts so that to improve the competitiveness. A research on the topic will help to analyze the effects of the crisis and the required steps from the countries in order to avoid the crisis.

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