EUROPEAN UNION CRISIS

EUROPEAN UNION CRISIS

EUROPEAN UNION CRISIS

EUROPEAN UNION CRISIS

  1. Background

Although European Union member states are working hard to cope with economic crisis in this area, various rating agencies reports show a very critical Europe economic condition particularly in the Euro Zone. Rating agencies Standard and Poor’s (S&P), Moody’s and Fitch report the falling down of Euro Zone member states’ credit ratings. These agencies also warn about powerful states namely France and Germany. And recently the agencies decreased rating of several banks in Europe.

Speaking of European Union crisis does surely regard to the case of Greek’s economic failure by which spread to other European Union states, e.g Portugal, Italy, Ireland, Greek, and Spain. As predicted as the trigger of European crisis, Greek is a state with highest debt ratio which is 142.8% of governmental debt followed by Italy (119.0%), Belgium (96.8%), Ireland (96.2%), Portugal (93%), Germany (83.2%), France (81.7%), Hungary (80.2%) and United Kingdom (80.0%).

While being states with strongest economics systems, Germany and France have to push their effort to repair crisis European Union is coping with, to avoid economic system from falling down due to decreasing Euro Zone, by push down the treat as a Europe zone member, so all country should fulfill the obligation as requirement to defending the stabilization of economics in this area, and as quickly make the economic stabilization in European Union.

  1. Problems
  2. What background causes European Union crisis?
  3. How to cope the crisis in European Union?
  4. Objectives
  5. Find the arrangement solutions of the crisis in European Union
  6. To find the causes of crisis in European Union

CHAPTER II

DISCUSSION

  1. The background causes the European Union crisis

European Union crisis begin in 2011 when global economics crisis back to occur and reach the culmination, this time in European area. Interesting to tracing, what actually happen in European countries so this one of the most prosperous area in the world then involve with problems that worried can pulled down one single currency system they have. Tracing European crisis simply can done by put the chronology.

Before, need to be known that European area in this chapter means all countries in Euro Zone, countries which using Euro as single currency. Today there are 17 member countries join this euro area, such as: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherland, Portugal, Slovakia, Slovenia, and Spain.

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