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2651289
Euro zone
Description
Mind Map on Euro zone, created by Andrew Mbuya on 04/05/2015.
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Mind Map by
Andrew Mbuya
, updated more than 1 year ago
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Created by
Andrew Mbuya
over 9 years ago
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Resource summary
Euro zone
Economic problems
Deficits and debts
Structural and micro issues
Bubble
Banks
Political problems
Monitoring
All missed
Institutions problem
No sanctions
ECB Inflation
Controls - ECB
Inflation
Interest rates
Debt: 60%
Deficit: 3%
What was the sense of the rules?
Ought to have led to convergence
Had they paid attention, it would have worked well
Failure to obey rule killed applicability of sanctions
No bailout
Low interest rates
Led to:
Increased consumption
Increased employment
Increased productivity
Increased investments
Why EURO?
Integrated steel and iron core
Partially used for war tension
Treaty of Rome
Cross order trade
Capital Flow
People
Currency
Stability
Union for competition
Big market => ability to scale
Developmental reasons
Create one market
Differences
Macro problems
Panic
Structural
Countries
Greece
Structural
Macro
Spain
Labor
Real estate overspending
House bubble
Portugal
Structural
Labour : more productivity required
Market
Fiscal
Ireland
Housing bubble
Banks crushed after
Fiscal
Private and govt agreed to fix structural
Italy
Ease of business
Fiscal
Structural
Germany
Fiscal
Solution?
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