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The European Economic Crisis in a Global Context and its Originator

Archives of Business Research

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Field Value
 
Title The European Economic Crisis in a Global Context and its Originator
 
Creator Kallianiotis, Ioannis N.
 
Description In this paper, the European economic crisis is discussed by examining chronologically the events that started in the U.S. (the originator) in August 2007 and due to globalization they continued in the highly indebted Euro-zone members. The common public policy and the common currency in Euro-area do not help the member-nations to improve their economies and overcome the recession because these countries are different and need each one its own policy and target interest rate. There were too many mistakes that led us to the latest financial crisis and authorities have to prevent these crises. The enormous debts in the U.S. and in the EU member-nations are unsustainable and new mixed public policies and regulations are needed to avoid similar negative effects in the future. Austerities and contractionary policies, during periods of recession (with negative growth of the real GDP and extremely high unemployment), are exactly the opposite of what the economies want and these anti-social policies are very suspicious for any thinking person. We have to go back to a value oriented socio-economic system, where humans will be in its center and core.
 
Publisher Archives of Business Research
 
Contributor Henry George Fund
The University of Scranton
 
Date 2015-08-25
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.scholarpublishing.org/index.php/ABR/article/view/1407
10.14738/abr.34.1407
 
Source Archives of Business Research; Vol 3, No 4 (2015): Archives of Business Research
2054-7404
10.14738/abr.34.2015
 
Language eng
 
Relation http://www.scholarpublishing.org/index.php/ABR/article/view/1407/774