Titile: Eurozone Crises
Presented by: Professor Cristina POPA
Time: 2017-10-25 12:00-13:15
Venue: E113, Fengxian, Campus
Time: 2017-10-25 15:30-16:30
Venue: Room 212, 3rd Teaching Building, Xuhui Campus
The European Union is a unique economic and political union between 28 European countries that together cover much of the continent. The main European Union`s advantages are: the maintainence of peace on the continent, the creation of the single market and the creation of a common currency: Euro.
19 European countries adopted the common currency and are collectively known as the Eurozone. Because of the 2007-2008 financial crisis that struck all the world, the Eurozone members accumulated massive deficits and public debt, far beyond the limits imposed by the European Union.
As the countries were unable to repay or refinance their government debt, European Commission, the European Central Bank and the International Monetary Fund offered them financial help. Because of this help, Europe managed to stimulate the Eurozone`s economy and prevent it from collapsing.
The Eurozone will be much stronger when all its members will be fiscally and politically integrated, until then it is vulnerable to many other crises.
Cristina Popa PhD, teaching assistent at the Faculty of Economic Science from “Lucian Blaga” University of Sibiu, Romania
Subjects of interest: Microeconomics, Macroeconomics, International Business, World Economy