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Essay / Research Paper Abstract
This 3-page paper discusses how members of the EU are trying to deal with the current economic crisis. Also under discussion are prospects of business in Turkey, which is on the list for EU membership. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MTeuecosta.rtf
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Unformatted sample text from the term paper:
impacting just about every country. the European Commission decided in February 2009 to take steps to try to stem ballooning public deficits, as the EU Stability Growth Pact requires member
nations to keep the deficits under 3.0% of the countrys gross domestic product (European Commission, 2009). The Pact does allow a breach in the limit in the event of a
crisis, but only under extraordinary circumstances (European Commission, 2009). Unfortunately, many of the EUs 27 countries are likely to see their deficits grow beyond 3% as they take steps to
protect their economies (European Commission, 2009). How can European countries maintain their economic and monetary stability in such a climate?
One solution that has cropped up from the recent G20 summit (during which most European leaders put the thumbs-down on more bailout money),
was to share ideas while eschewing excessive regulation (Williamson, 2009). The reason for cutting back on regulation is that regulation tends to stifle innovation, which can cut down on economic
growth (Williamson, 2009). The European nations are also calling for more accountability to the credit-rating agencies such as Moodys, Standard & Poors and Fitch (Williamson, 2009). The nations, in other
words, rather than pushing regulation and government interference are instead moving more toward information gathering and data disclosure (Williamson, 2009). One
reason why many European nations are moving away from more public spending is because the governments have already worked hard to get public spending under control and to create a
stable basis for the euro (Ewing, 2009). The last thing any of these countries want to do is return to old spending habits (Ewing, 2009).
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