The Euro Crisis- A Look Beyond the Headlines - 09-Jan-2012
Investors in Europe and around the world are deeply worried about the impact of the euro crisis on the economic situation in Europe, and indeed on the global financial system. The threat of the crisis worsening has led many investors to abandon the equity markets.
In spite of an assortment of threats and opportunities in every part of the world, the media and investors in this moment are focused on Europe. The view of impending doom presented by media headlines is overly simplistic.
The European leaders have been seen as dithering as the crisis builds. Certainly, strong decisive action earlier in the process might have stemmed the contagion. The media has been particularly critical of Germany and its Chancellor, Angela Merkel. There is more to it than an unwillingness on the part of the Germans to bail out their less productive neighbours.
One of the fundamental problems is that the political systems in many of the peripheral countries stifle growth and productivit..
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