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How much better would the economy be if the E.U. problem was solved.?
It seems like many economist keep referring to the economic crisis in Europe and how it is hindering economic growth in america and other parts of the world. they continue to illustrate how if the Domino affect in Europe takes affect then what little growth the U.S. has seen will be destroyed and that the U.S. would see a much worse economy.
What happened if the E.U. just started booting out broke countries like Greece, Ireland, Portugal, and Italy? Would the economy in the U.S. be more likely to progress or would it and the EU economy further deteriorate?
Why aren't the economies in Japan and Australia seeing the same issues? (i know japan suffered from the rupture of the internet bubble and the so called "lost generation" in the 1990's and 2000's)
1 Answer
- Cohen SommerLv 59 years agoFavorite Answer
First of all there are only 2 broke countries in Europe. Iceland and Greece.
In second place, EU can't "start booting out" anyone because it's treaties forbid it.
In third place even if EU would be able to do so, it would only worsen things, with markets peaking european by european till Germany. First Greece, that Ireland or Portugal, than Spain, Italy, Belgium, France, Austria, The Netherlands etc. Just look how 10 year bonds have grown in Europe and you will see that Domino Effect that has reached the Netherlands recently (a supposedly economic powerhouse in EU). Soon after the markets would peek at the USA. After all, it's fundamentals are worse than many European states that are already in the stage.
In Forth place the USA are much more dependent on Europe than Australia or Japan. The USA has as it's main partner EU, while Japan has the USA (still growing) and Australia has China and other fast growing asian countries.