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The following article was published in our article directory on December 31, 2010.
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Euro Born Defect Finally Caused the Crisis

Article Category: Business Management

Author Name: Amanda xzh

From 1 January 1999 since the birth of the euro through a full 11 Spring and Autumn. After 5 to expand, the euro zone by the beginning of the 11 countries to 17 countries now, the euro has become the world's second largest after the U.S. currency. Along the way, the euro can be described as experienced frustrations.

Beginning of the birth, it has slumped more than euro, after the U-trend in the overall presentation. October 25, 2000, the euro against the U.S. dollar from 1.18 when starting to collapse to a ratio of 1 to 0.83, a depreciation of about 30%, and record the lowest so far. Can people really survive the storm was worried for the euro to sweat. The results show that the euro well spent in this new thing is full of breathtaking, "infancy." Low levels after more than a year, the euro began climbing.

In 2008, began in the U.S. international financial crisis, which is a record against the dollar, but also to further enhance its international status the euro provided a golden opportunity. April 22 that year, New York trading the euro against the U.S. dollar hit a record high of more than 1.6, almost doubled compared with the lowest. For a time, the euro appears to be rising, along with 10 years of age "birthday" of the arrival of the euro dollar trend beyond great.

However, more than of joy, a most serious crisis in the history of the euro is approaching. The end of 2009, the first euro-zone members of the Greek sovereign debt crisis erupted and quickly to Ireland, Portugal, Spain and Italy, the euro zone debt outstanding other members of proliferation.

In 2010, the year the euro have gone through a soul-stirring, sovereign debt crisis has brought unprecedented challenges to the euro. Today, Greece and Ireland have been forced to accept aid, Portugal and Spain, the risk is still to follow suit, the debt crisis of the "domino" effect is still difficult to predict when to stop.

Brewing crisis in the final birth defects

Lingering debt crisis opened a euro "old scars." Indeed, since the euro's inception, the voice of doubt on the ears. As the history of mankind is a major undertaking currency, the euro is not perfect.

And compared to the ideal state of the single currency, the euro was born only a unified regional members of the monetary policy, but did not achieve a unified fiscal policy. This inherent structural defects ultimately lead to today's crisis.

Because fiscal policy "short leg", Greece and other eurozone members for the deteriorating fiscal situation and the potential risk of lack of effective supervision and macroeconomic constraints means of low euro zone interest rates to further stimulate the excessive consumption of these countries, contributing to the economic bubble breeding. Wait a country crisis, the euro area and there is no uniform financial backing for, and the lack of available crisis response mechanism, Greece and other countries into a position to go it alone, as speculators targeted one by one.

Bitter experience, the crisis has spawned the most significant changes ever euro. In response to the process of sovereign debt crisis, the euro area euro area Member States began to improve economic governance, institutional block loopholes in the euro.

EU member states have been reached under the reform program, the euro zone will strengthen fiscal discipline, the new macroeconomic risk monitoring mechanism, to strengthen economic policy coordination and the establishment of a permanent mechanism for crisis response and other specific measures to prevent recurrence of similar crises.

Bump forward the next decade

Standing next decade of this century, the starting point, through the great upheaval and great change of the euro as the EU leaders can expect from the ashes once again carry the banner to challenge the dollar, worth the wait.

Can expect, at the beginning of the years, it will be very tough for the euro, because the short term, sovereign debt crisis is still possible to increase, especially in 2011, with the euro-zone countries finance the arrival of the peak, Portugal and Spain members fear the economy is relatively weak escape unharmed.

According to UniCredit estimates, the euro zone in 2011 for the repayment of maturing debt to be refinanced 560 billion euros, the highest peak since the birth of the euro than the increase of 45 billion euros in 2010, of which the Portuguese first half of 2011 to be 200 billion funding euros.

In order to deal with the debt crisis, the eurozone countries have introduced a large fiscal austerity measures, plans to use three to four years down the deficit level of security, but they fear that hurt economic recovery, and even lead to recession in Greece and other countries, not repeatedly ruled out the possibility of the debt crisis. Can be said that the next three to four years, the euro will be in crisis after the "recovery."

Medium to long term, the euro is also subject to strong rebound in some unfavorable factors. In the face of the challenges of population aging, financially unable to make full preparations for the euro countries is not a light burden of the next, economic development is bound to be restricted; Second, the debt crisis has worsened the imbalance of economic development within the euro area, the European Union think tank chief economist of the European Policy Centre, Chu Roger Fabian warned that the imbalance is causing the crisis is a big incentive, if not corrected, the next crisis will be planted for the "seed"; third is the euro reform, there are still shortcomings.

Of course, the euro regained strength will also depend on whether the U.S. economy and dollar policy changes.

However, Chu said Roger, with 3 million people, approaching the total size of the economy and the U.S. will not be like the euro area, as advocated by skeptics fall apart, because for all eurozone members, give the euro more harm than good, not only in economic , but also politically disastrous.

Although the road ahead may not be smooth, but for the euro, the only option is to move forward in the integration process in the search for glory.

Keywords: Compressor housing Manufacturer, China Bearing housing, Repair kits,

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