THE EUROPEAN ECONOMY AND THE BANKINGCRISIS MADE BY MICHAEL CLAUS
CONTENT• Situation european economy• Financial situation of Greece• Does Europe need help?• Should Greece leave the euro area?• Conclusion
EUROPEAN ECONOMY Situation Biggest problem: the inflation rises higher than the GPD and the unemployment is falling slowly In 2011 : 185000 joblosses it reached a peak of 17 million unemployed people.
RECOVERY PLAN 2008: the European Commission has presented a plan to recover Europe from the current economic crisis 2 elements: measures to rise up the demand and save jobs and smart investment
GREECE 2011: Rescue package 110 bln euros March 2012: extra support of 28 bln euros. Greek population: protest against the savings measures
DOES EUROPE NEED HELP?The crisis has affected the global market risk that this crisis may spread to other countries uncertainty in financial markets. Without help from other nations this situation will only get worse.
KICK GREECE OUT OF THE EURO AREA? +CONCLUSION NO, the Euro countries have to help each other if it’s possible. We have to be one We have to know that it isn’t that easy!