Eurozone crisis: a view from Brussels
With the Eurozone crisis continuing to dominate the headlines of every news outlet across the EU-27 and globally, you can’t help but feel a sense of almost panic and despair in Brussels over how to cure the many issues that remain in the Eurozone crisis. With talks on a daily basis of the death spiral of certain Member States, it cannot be a surprise that the credibility of the potential solutions to the growing list of problems is constantly being questioned.
The global increasing pressure on the institutional leadership is clear - the Eurozone crisis is no longer a problem for those solely using the Euro. The ripple effect on third countries is staggering, with consumer spending in Europe falling, China is feeling a harsh secondary impact, and the with the US already desperately trying to maintain stability, the shock of a Eurozone exit may cause further turmoil. Several economists have already declared the cost to the UK of a Greek exit may total £5bn.
However with all these facts aside the true cost will be to those who live in the hardest hit Eurozone countries and the devastating impact failure will have on not only their generation but potentially the next generation to follow…
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