Last news about the crisis of the Europe that EU leaders reached at a summit held in Brussels to present a final agreement on
three key issues to be able to cope with the debt crisis in the euro area. The
agreement to refinance the banking sector of 106 billion euros, and to inform
the private assets of banks 9%, and the expansion of the European Financial
Stability Fund to 1 trillion euros, and the write-off 50% of the Greek debt.
The agreement came in line with market expectations to a certain extent, to
reduce the tension of the debt crisis in the European market, will also play a
positive role in promoting the stability of global financial markets in the
short term.
But the region's leaders not to take a decision reforms during the summit, may be difficult to rid the world of European debt crises.
The contradictions between the regime of the single currency of the EU and the system of fiscal decentralization and the lack of financial control of the Member States planted frightening debt crisis in Europe. Although the relationship of the economic system in the euro area and the document, although the euro made clear to join the euro zone, but the lack of supervision after joining the euro area the main reason for the outbreak of the crisis. In addition to the turmoil in international financial market, and global economic recession, and the multiple threats and vague, and the financial system fragmented in the euro area, hampering the formulation and implementation of any policy in case of emergency. The independent monetary policy consolidated between Member States and the contrast with fiscal policy, and standing Member States along only to take advantage of the euro, or an unwillingness to acknowledge its responsibility for the least amount possible, moreover, the difference large in economic output, national, and economic structure vastly different and different development models, etc., and the aging population and issues of the economic gap between people and the complex social conflicts, making the distinction between the economy of the EU countries is growing more and more. And although the euro zone countries have repeatedly tried to coordinate fiscal policies since the debt crisis in Europe, but with little success. The development of "three pillars" in front of the leaders do not resolve the debt crisis, but also for emergency measures to promote unity in the euro area, focusing on the financial system and the policy closely and building economic relations with other systems, and make radical changes to resolve the debt crisis in Europe.
The main reason behind the problems of the system in crisis management in the euro area is a great demand in the capital market and the inherent limitations of the economic model. Therefore, any reforms that may impair a portion of the special interests of some, while the reform of existing mechanisms, and changing the development model is a long and painful process, yet the debt crisis forced policy-makers of the European to be to have the courage and vision to resolve deep-rooted problems and contradictions faced by the region the euro.
From another perspective, the debt crisis a good opportunity to address chronic diseases in the euro area and open the door to the new Europe. Where the crisis is forcing some members to promote the depth of the integration process in order to promote domestic structural reforms to meet the needs of economic development in the euro area. In the context of economic globalization, the mutual assistance, and enhance coordination feature of the times. The reform of the system in the euro area not only to reform the system itself, and can also win the confidence and aid the economies of other countries.
But the region's leaders not to take a decision reforms during the summit, may be difficult to rid the world of European debt crises.
The contradictions between the regime of the single currency of the EU and the system of fiscal decentralization and the lack of financial control of the Member States planted frightening debt crisis in Europe. Although the relationship of the economic system in the euro area and the document, although the euro made clear to join the euro zone, but the lack of supervision after joining the euro area the main reason for the outbreak of the crisis. In addition to the turmoil in international financial market, and global economic recession, and the multiple threats and vague, and the financial system fragmented in the euro area, hampering the formulation and implementation of any policy in case of emergency. The independent monetary policy consolidated between Member States and the contrast with fiscal policy, and standing Member States along only to take advantage of the euro, or an unwillingness to acknowledge its responsibility for the least amount possible, moreover, the difference large in economic output, national, and economic structure vastly different and different development models, etc., and the aging population and issues of the economic gap between people and the complex social conflicts, making the distinction between the economy of the EU countries is growing more and more. And although the euro zone countries have repeatedly tried to coordinate fiscal policies since the debt crisis in Europe, but with little success. The development of "three pillars" in front of the leaders do not resolve the debt crisis, but also for emergency measures to promote unity in the euro area, focusing on the financial system and the policy closely and building economic relations with other systems, and make radical changes to resolve the debt crisis in Europe.
The main reason behind the problems of the system in crisis management in the euro area is a great demand in the capital market and the inherent limitations of the economic model. Therefore, any reforms that may impair a portion of the special interests of some, while the reform of existing mechanisms, and changing the development model is a long and painful process, yet the debt crisis forced policy-makers of the European to be to have the courage and vision to resolve deep-rooted problems and contradictions faced by the region the euro.
From another perspective, the debt crisis a good opportunity to address chronic diseases in the euro area and open the door to the new Europe. Where the crisis is forcing some members to promote the depth of the integration process in order to promote domestic structural reforms to meet the needs of economic development in the euro area. In the context of economic globalization, the mutual assistance, and enhance coordination feature of the times. The reform of the system in the euro area not only to reform the system itself, and can also win the confidence and aid the economies of other countries.
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