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Unformatted text preview: afford to bail out. The ultimate goal in creating the EU was for a unified Europe, a two-tier system would counter act that goal by creating a division of power. The German Chancellor, Angela Merkel, stated that “if the euro fails, Europe fails.” Merkel is being recognized for her hard-hitting approach to the fiscal responsibility of European countries, especially Greece and Ireland. She furthermore purposed “permanent bailout mechanism” as an alteration to the Lisbon Treaty to which countries are required to cut government spending and taxes have to be raised Ireland has taken a $120 billion in bailout funds for its banking debt. The Eurozone Crisis will lead to some sort of change, whether that will be a two-tiered system or dropping. The Eurozone crisis still has uncertainty in the future. The actions that are taken will have major implications on the EU as well as the rest of the world....
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This note was uploaded on 02/13/2011 for the course FIN 442 taught by Professor Flunger during the Spring '11 term at University of Wisconsin Colleges Online.
- Spring '11