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What are the measures taken by the EU concering the Euro crisis?

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dg08 | Student, College Freshman | Honors

Posted November 19, 2011 at 9:28 PM via web

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What are the measures taken by the EU concering the Euro crisis?

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

Posted November 19, 2011 at 10:36 PM (Answer #1)

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This is a very good question in view of what is happening in the world. So far there have been three major moves by the EU. First and most importantly, they have been talking about austerity measures. They do not want to take the path of the American banks by printing more money. Germany leads the way in trying to cut costs, rather than the alternative route of weakening the Euro. In the end, we do not know what course of action will prevail.

Second, the EU bailed out Greece last year in the tune of 110 billion euros. This loan did no help too much. The Germans want some of the private investors in Greece to take a hit instead of just giving more money.

Third, they have tried to borrow money, for example, from China a few weeks back. China, who holds lots of cash, declined.

As for now, there is no clear solution and it is anyone's guess as to what will happen next.

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