| La crisis de la deuda soberana europea. The University of Iowa |
International Finance & Development. © The University of Iowa, Center for International Finance and Development, June, 2013 Some experts believe that the Eurozone’s current focus on cutting as much spending as possible will not solve the crisis. Austerity measures have brought on recessions in many countries, meaning that those countries are losing revenue as they cut spending, thereby preventing them from reducing their debts. Data for the countries most affected by the crisis showed that unemployment was on the rise and manufacturing was on the decline in 2012. Relatively healthy Eurozone countries, like Germany and France, have also had decreases in manufacturing, although unemployment has not increased as of April 2012. Experts especially criticize the European Commission’s support of austerity programs to reduce deficits in countries like the Netherlands and France that have lower interest rates. Instead, experts believe that such countries should focus on boosting economic growth. In countries that import more than they export, like France, Italy, Spain, and the United Kingdom, they suggest increasing investment and exports to generate revenue. For countries that have surpluses in export revenue, like Germany and the Netherlands, experts advocate increasing domestic consumption to stimulate economic growth. Though experts disagree on methods, all agree that Europe must stop the crisis from spreading to other countries as the consequences of failing to do so may be dire.. Palabras Clave: Unión Europea, eurozona, deuda soberana, bancos centrales, crisis financiera, sistema monetario, política monetaria, política fiscal, rescate financiero, instrumentos financieros, mercados financieros, tipo de cambio, Fondo Europeo de Estabilidad Financiera, Pacto de Estabilidad y Crecimiento, integración económica, recuperación económica, economías emergentes, inversión extranjera Clasificación JEL: E44, E52, E58, E62, E63, O52, Y10 |
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