Home Part 4 THE CRISIS FROM THE EUROZONE

Nicu Trandafir, Sorin Blaj
"Drăgan" European University of Lugoj, Faculty of Economic Sciences,
Str. Ion Huniade, No. 2, Lugoj, Romania,
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Abstract:
The implosion of the European financial system? The global financial crisis – which still fumes – completed by a series of adjectives: economic, moral, social, political, has shaken the intelectual and political elite causing strong debates and the analysis of the causes, effects and, especially, the solutions of this true ”cyclone”. Some preached even the end of the world for the beginning of another world! It is unanimous the idea according to which the fool monetary system of the world must be deeply re-formed/restructured, not only tamed. For the European Union, the critical problems appeared on the ground of national debt crisis. The countries burdened by national debts – Greece, Spain, Portugal etc – can break down in a conflict - caused by the dilemma who will pay: tax payers, bankers, public sector’s employees, investors! There is the major risk of breaking out a monetary and commercial ”war” as soon as governments face the population rage as consequence of the decrease of incomes and increase of unemployment. Eurozone and European Union are in danger. Profound crisis, institutional block and the lack of efficient solutions will become chronic, and the lack of trust of people in politicians and in the European project will increase.
Keywords: crisis nature in eurozone, Maastricht essential criteria, consequences of eurozone crisis, solutions or the last solution, problems for Romania, end of success story.
JEL classification: E5, E6.

 

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