Thursday, February 13, 2020

The European sovereign debt crisis dominated international financial Essay - 1

The European sovereign debt crisis dominated international financial markets during 2010-2012. Economies fell into recession and financial market volatility was high - Essay Example d not be contained as the problems only in the Greek region, given the economical and financial structure governing the European nations it was apparent that this crisis was a truly ‘European’ crisis and couldn’t be handled in isolation with any one country. The Greek deficit was a direct result of the The European Nation came into being in 1992 through the signing of the Maastricht Treaty. The treaty established the euro as legal tender for all the participating nations, with the exclusive responsibility of forming the monetary policy for the euro zone falling on the European Central Bank. The treaty promised great benefits for the nations admitted to the euro zone. There were two major economic rewards firstly it increased the ease of borrowing for individual governments based on the average rating for the whole of euro zone; nations with high deficits and low GDP would enjoy the same average rating as a benefit from the high economic performance of stronger euro zone economies. Secondly, the uniform monetary policy meant that no nation could devalue its currency or lower interest rates etc to increase their competitive advantage. This leveled the playing field for all participants of the Euro zone. However, the mechanics behind these ‘benefits’ were risky and the major criticism for the treaty. The countries were still held responsible for designing their fiscal policies in order to positively influence the economy, but without the control of monetary measures, they could not manage their sovereign debt problems through devaluation of currency or lowering the interest rates. Another concern, which would later prove to be true, was the idea that some economies might become ‘free-riders’ and depend on other participating nations in the euro zone to indulge in high debt to finance economic activities without the required increase in productivity. In order to put a check and balance on the system, a â€Å"convergence criteria† was set upon for the

Saturday, February 1, 2020

-High school graduates should take a year off (a gap year) before Essay

-High school graduates should take a year off (a gap year) before entering university - Essay Example This makes them appreciate cultural diversity, and as a result, they are able to interact with other students from different cultural backgrounds (Griffith 220) b) Some of the students get a chance to travel to other foreign places which provides them an opportunity to learn different cultures that are different from their own. The travelling also offers a chance to earn money and learn new languages. 3. a) It provides an opportunity to save money. In this economic crisis, the high-school graduates engage in income-generating activities that provide money to pay college tuition and offset other expenses (White 54). b) The students save money in the form of having a clear objective in what courses to take in college. This enables them to avoid four or more years of wasted money and time spent on aimless drifting from one course to another. 4. a) The gap year increases the chance of a student admission to college of choice. The break-off year gives one a chance to take part in other extra-curricular activities that give leverage to ones admission chances. During college admissions, a lot of factors are considered besides the student’s score and teacher recommendation (White 53). b) The factors may include volunteering for a cause or organization, or learning of a foreign language, for example, for two student applicants with high student’s score and appropriate recommendations from the teachers, the one with extra experience in matters non academic stands a high chance of being admitted compared to his counterpart. III Conclusion: As I conclude, it is evident that the year gap does more good than harm to a high-school graduate. Students with the experience of a year gap bring a different aspect to classes. Majority of the students who have taken a year gap, are of the opinion, that they learned more during the one year compared to the total time they have spent in a college class.