Tuesday, September 29, 2015

Greece’s Debt Crisis Explained by The New York Times

What if Greece left the Eurozone?
“At the height of the debt crisis a few years ago, many experts worried that Greece’s problems would spill over to the rest of the world. If Greece defaulted on its debt and exited the Eurozone, they argued, it might create global financial shocks bigger than the collapse of Lehman Brothers did.”

            Europe is a continent that was the center of two major military world conflicts in the first half of the twentieth century. At the end of the last century, the European Union was established as a central organization that would strengthen Europe. However, different generations have varying viewpoints as to the success of the European Union. For Europeans younger than fifty years old, the European Union is the root cause of Europe’s economic crisis. However, Europeans older than fifty years old realize that the European Union has been influential in maintaining peace on the continent.  The European Union needs to see the proverbial “big picture” and work together for the benefit of all of its countries. Although the system is relative new and adjustments are necessary, I am convinced that maintaining the European Union is the solution.
Yiby Person

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