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Moody’s downgrades EU countries amidst Greek riots

by admin on November 26, 2012 · 25 comments

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Moody’s downgrades EU nations amidst Greek riots

Moody's downgrades EU countries amidst Greek riots

On Tuesday the European Union obtained one more blow following Moody’s downgraded the financial debt ratings of six Eurozone nations. Portugal, Italy and Spain obtained the downgrade, although tens of thousands of Greeks took to the streets to show their dissatisfaction with their government’s selection to grant another round of austerity measures. Right here is the most recent from Greece. Like us and/or adhere to us:
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greece union countries query by Rino M: Did European leaders agree to consist of Bulgaria and Romania to the EU just for connecting Greece?
With the basic explanation to connect Greece to the rest of Western Europe?

I nonetheless truly could not understand why Romania and Bulgaria are part of the European Union, when all of their citizens moved quickly to the other countries in Europe as soon as they joined. The reason is simply because obviously these two nations are not economically competent to be component of the EU.

So I hypothesized that the only true explanation why Romania and Bulgaria are now element of the European Union is since Greece needed a way to transport goods by road or railroad to the rest of Western Europe?

greece union nations greatest answer:

Answer by Marcus P. Cato
It’s an fascinating considered, but I do not think that was the actual purpose. In my view there are two problems with this reasoning: Firstly, Greece is very effectively connected with the rest of Europe by sea, and sea transport is far more productive than rail or road transport. Secondly I am not confident no matter whether Greece is connected to Bulgaria by rail. If it is, it is almost certainly only a single or two low capacity lines. In reality, Greece is much much better linked by rail with what utilized to be Yugoslavia, but people nations were not invited to the EU, at least not but.

I feel you require to remember that, with the exception of the founding members, few countries had been experienced to join the EU at the time they joined. Greece was surely not, and neither have been Spain, Portugal or Ireland. It is a difficulty on the short term, but on the extended expression the two the nations and the EU will benefit. You may also want to contemplate the example of the re-unification of Germany: the DDR was undoubtedly ‘not economically qualified’ to be integrated into West Germany, but integrated it was and not only for causes of patriotism.

There are many causes why makes sense for economies like the EU to make companions with countries this kind of as Bulgaria, but they are unable to be adequately explained in the restricted area of this reply. A single explanation is that these nations need to create their infrastructure and the EU companies want to broaden the scope of their enterprises. The EU will supply the poorer nations with the income to re-construct and the political incentive to hire EU contractors, rather than American or Russian. Another purpose is that the citizens of these nations will start acquiring more buyer products as their economic climate improves (thanks to subsidies). The EU hopes that it by integrating their markets, the common Bulgarian or Romanian will be a lot more inclined to acquire a Volkswagen instead than a Toyota.

Hope that assisted.

What do you assume? Solution under!
Markets stay hopeful of Greek deal
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Greece&#39s partners in the group of 17 European Union countries that use the euro once again failed to agree a strategy that would have permitted them to release much more income for the financial debt-crippled nation. However officials say a deal is close — the finance …

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