The riots in Athens are part of a big problem, for Greece it's real and deeply serious, but not only for that country. Portugal, Ireland, Italy and Spain are to udergo to a similar situation throughout their cities.
It's the first great test for European Union, evaluating the real state of health of the Eurozone. How long is this crisis going to be? It depends on how fast Greece can fulfill its obbligations with IMF and obviously with EU.
Many countries celebrated when they got into Eurozone, but they didn't make great efforts to increase the power of their own enconomies, and now when they have to face competitors such as Germany and Finland using the same currency they cannot make difference by products' prices anymore.
A solution? Empowering their industries and cutting costs would be a goal to achieve.
quinta-feira, 6 de maio de 2010
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The real problem is the monetary system. The crisis may (re)start with Greece, and other minor economies, but it will soon get to USA and Japan as well.
ResponderExcluirJust to put some sauce in my argument, you should take a look at other european countries debt. And I´m not talking about Portugal. Italy is a G8 member and has probably the worst situation. "Empowering their industries and cutting costs" is not the solution.
ResponderExcluirGrécia:
PIB nominal: $342.2 billion (2009 est.)
Dívida pública: 113.4% do PIB (2009 est.)
Dívida pública: 97.4% do PIB (2008 est.)
Dívida externa (pública e privada): $552.8 billion (30 June 2009)
Reservas: $3.473 billion (31 December 2008 est.)
Portugal:
PIB nominal: $222.4 billion (2009 est.)
Dívida pública: 75.2% do PIB (2009 est.)
Dívida pública: 66.4% do PIB (2008 est.)
Dívida externa (pública e privada): $507 billion (30 June 2009)
Reservas: $11.95 billion (31 December 2008 est.)
Itália:
PIB nominal: $2.114 trillion (2009 est.)
Dívida pública: 115.2% do PIB (2009 est.)
Dívida pública: 105.8% do PIB (2008 est.)
Dívida externa (pública e privada): $2.328 trillion (31 December 2008)
Reservas: $105.3 billion (31 December 2008 est.)
França:
PIB nominal: $2.666 trillion (2009 est.)
Dívida pública: 79.7% do PIB (2009 est.)
Dívida pública: 68.1% do PIB (2008 est.)
Dívida externa (pública e privada): $5.021 trillion (30 June 2009)
Reservas: $102.9 billion (31 December 2008 est.)
Alemanha:
PIB nominal: $3.273 trillion (2009 est.)
Dívida pública: 77.2% do PIB (2009 est.)
Dívida pública: 66% do PIB (2008 est.)
Dívida externa (pública e privada): $5.208 trillion (30 June 2009)
Reservas: $138 billion (31 December 2008 est.)
By the way... this is Brazil:
ResponderExcluirPIB nominal: $1.499 trillion (2009 est.)
Dívida pública: 46.8% of GDP (2009 est.
Dívida pública: 38.8% of GDP (2008 est.)
Dívida externa (pública e privada): $216.1 billion (31 December 2009 est.)
Reservas: $238 billion (31 December 2009 est.)