Greece, Ireland, now Portugal. The eurozone crisis continues and worries persist that the bail-out packages provided by the EU and the IMF won’t solve the problems of the peripheral eurozone countries. Can privatisation programmes and cuts in social spending really save those crumbling economies? I would not bet on it and prepare for the worst.
Posts Tagged ‘ Ireland ’
First Greece, then Ireland, now Portugal. Three countries now receive money from the EU bailout fund. Yet again the EU imposes a strict austerity programme in return for financial assistance. However, the situation is more complicated than in the Greek and Irish case because Portugal is currently governed by a caretaker government and elections will take place in June.
The euro zone is facing a deep crisis. Greece and Ireland are close to bankrupt. Portugal, Spain and Italy are most likely the next victims. The call for action from the financial markets is growing ever louder. And what are our Finance ministers doing? Indeed, they are talking. A little essay on the structural deficiencies of the EMU-system.
Recent reports suggest the need to bail-out Ireland out of their economic misery. What is going on in Ireland and how big is the problem? Do they need the EU’s help?