Monday, October 24, 2011

Europe's Debt Crisis

Many factors have led to the Euro Debt Crisis. First, the US economy remains sluggish, with unemployment rates hovering above 9.1% as of third quarter of 2011. The crisis in Europe seems to gain one more chapter -- "H" of Hungary. Strong rumors pointed to a possible "default", the technical term used to designate a default on its debt. Hungary has a fiscal deficit of around 7.5% of GDP. While the European sovereign debt situation remains prominent in the business news, the euro has depreciated significantly in anticipation of events that could lead to the dissolution of the European Union, and that will mark the end of the euro as we know it. More Here...

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