A Tale of Two Crises

A Tale of Two Crises - start with the reconstruction of the...

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This talk, given by Ira Lieberman, describes the inevitability of another economic crises. Lieberman claims that in good economic times, people should prepare for a crisis. Using the examples from both the past and other countries, we can better prepare for economic problems that the US may face. One of the main problems seen now is the United States' debt accumulation, which is a forecaster of an economic crash that may occur. The twin crises that are described are between the US and the Euro Zone. Though these are different problems, they are not identical, but however are connected. Lieberman's prediction as to how to fix these problems
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Unformatted text preview: start with the reconstruction of the Greek markets, and continued bailout. His second resolution is to augment the capital of the other European banks to cover their potential losses on sovereign loans. The third is to augment the capital of the EFSF. The fourth is to establish governance over Euro and EuroZone economies which would help enhance the powers of the European Central Bank. In conclusion, Lieberman thinks major changes must be in place in order for the economic stability of these nations. The key, he states, is for policy makers to focus on restoring short-term growth first, then worry about the longer-term issues....
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This note was uploaded on 02/09/2012 for the course ACCT 151 taught by Professor Brown during the Spring '11 term at Cuyahoga CC.

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