TITLE

The black swan event whose consequences are totally unknown -- but likely very bad

PUB. DATE
May 2012
SOURCE
In Search of the Perfect Investment;5/16/2012, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article analyzes the financial and economic crisis faced by the European Union (EU) and it currency euro. The Governor of the Bank of England Mervyn King has issued a statement in which he has warned that euro crisis is going to get worse. It is stated that, EU countries like Spain, Italy, and France are facing economic crisis and due to the single currency euro they can't devalue the currency and start all over again.
ACCESSION #
76114514

 

Related Articles

  • One for all, All for One. Pavoncello, Franco // World Affairs;May/Jun2011, Vol. 174 Issue 1, p59 

    The article discusses the financial crises of several member nations of the European Union (EU). These are Portugal, Ireland, Greece, and Spain, which are grouped together under the acronym PIGS. The crises have led to concerns about the future of the Euro as a currency union. An overview of the...

  • Greece as a Demonstration Project. Epitropoulos, Mike-Frank // Dollars & Sense;May/Jun2010, Issue 288, p9 

    The article discusses the economic crisis in Greece, which has caused a major impact on the value of euro within the European Union (EU) member nations. The crisis of the country roots back to its largely employed public sector where it runs on patronage, causing the sector to hire more Greek...

  • Safety in Numbers. Raudseps, Pauls // Transitions Online;4/27/2009, p2 

    The article focuses on member countries of the European Union (EU), which are considering the adoption of the euro currency as the sole legal tender. According to the author, after the financial downturn, many EU members have decided to join the eurozone, which is a union of countries using the...

  • The Euro: Safe Haven. Cardais, S. Adam // Transitions Online;1/19/2009, p5 

    The article reports on the level of adoption of the euro currency in European Union (EU) countries in the midst of the global financial crisis. It states the move of several European countries to think about their plans to adopt the euro currency as they are carefully examining the current...

  • Financial Crisis in the New Member States Jeopardizing the Euro-Zone Entry. Popa, Ancuta // Papers from the 4th Annual International Conference in European ;2009, p234 

    The paper aims to analyse the current financial crisis. After describing its causes and effects, the study focuses on the crisis' impact on the global economy, particularly on Central and Eastern European (CEE) economies, which hadn't yet adopted the euro currency. It also evaluates the measures...

  • Merkel's Moment of Truth. Stokes, Bruce // National Journal;12/3/2011, p3 

    The article discusses Germany's response to crisis in the European Union (EU). It states that Germany has a chance to take the lead in resolving the issue, but at the risk of losing some EU members. It reports that German Chancellor Angela Merkel proposes more spending to save the Euro, and has...

  • EURO TRASHED. Ferguson, Niall // Newsweek;5/24/2010, Vol. 155 Issue 21/22, p46 

    The article discusses a debt crisis in Greece. Although the European Union (EU) and International Monetary Fund have devised a bailout package for Greece, there are no guarantees other EU nations might not find themselves in similar straits. In the author's view Europe must either unify both...

  • Is the 'EURO' a Defunct Currency? Alexiou, Constantinos; Nellis, Joseph // International Journal of Economics & Financial Issues (IJEFI);2012, Vol. 2 Issue 3, p296 

    In this paper we provide a brief discourse on the theory of optimum currency areas to serve as a basis for constructive criticism of the conceptual framework of the eurozone. With particular reference to the Greek economic crisis, we argue that the very architecture of the EU experiment...

  • Iceland's Ongoing Revolution. Stryker, Deena // Synthesis-Regeneration: A Magazine of Green Social Thought;Winter2012, Issue 57, p14 

    An Italian radio program's story about Iceland's ongoing revolution is a stunning example of how little our media tell us about the rest of the world. Americans may remember that at the start of the 2008 financial crisis, Iceland literally went bankrupt. The reasons were mentioned only in...

Share

Read the Article

Other Topics