With the recent crisis surrounding Greece’s failing economy, it is understandable that EU nations have gathered to formally discuss reforming the monetary union.
A few minutes into the discussion, it is clear that many countries are frustrated with having to pay over 220 billions of euros to Greece. Bulgaria taking the stand exclaims that they are offended at having to pitch in when they are not even use euro currency.
The representative goes on to explain “Bulgaria is a poor country, and we have a hard enough time trying to support our own population.”
Bulgaria’s solution to tackling economic problems is to maintain a low and stable population. Although this proposal is somewhat vague, it seems like they are following China’s lead and suggesting we implement a one child policy (or perhaps something more sinister).
While Greece’s fiscal instability has received the most media coverage, it can be said that all nations belonging to the EU have suffered economically in the past few years. As pointed out by Slovakia, one reason for this is unemployment.
Even though Slovakia admits that they “really have no solutions to the issue” at the moment, they are quick to call out Spain as having the highest unemployment rates in the EU; unfortunately, the representative for Spain was not present to make a rebuttal.
In January of 2014, the IMF announced that Spain’s national unemployment rate reached 25.4 percent (an all time high) and is expected to remain above 20 percent for the next five years.
Many countries such as Finland and the Czech Republic seem to agree that national budgets need to acknowledge the importance of avoiding unemployment, especially within the youth population. Additionally, Croatia proposes that funds should be reappropriated to develop plans through the European Social Fund and the Youth Employment Initiative.
A few minutes into the discussion, it is clear that many countries are frustrated with having to pay over 220 billions of euros to Greece. Bulgaria taking the stand exclaims that they are offended at having to pitch in when they are not even use euro currency.
The representative goes on to explain “Bulgaria is a poor country, and we have a hard enough time trying to support our own population.”
Bulgaria’s solution to tackling economic problems is to maintain a low and stable population. Although this proposal is somewhat vague, it seems like they are following China’s lead and suggesting we implement a one child policy (or perhaps something more sinister).
While Greece’s fiscal instability has received the most media coverage, it can be said that all nations belonging to the EU have suffered economically in the past few years. As pointed out by Slovakia, one reason for this is unemployment.
Even though Slovakia admits that they “really have no solutions to the issue” at the moment, they are quick to call out Spain as having the highest unemployment rates in the EU; unfortunately, the representative for Spain was not present to make a rebuttal.
In January of 2014, the IMF announced that Spain’s national unemployment rate reached 25.4 percent (an all time high) and is expected to remain above 20 percent for the next five years.
Many countries such as Finland and the Czech Republic seem to agree that national budgets need to acknowledge the importance of avoiding unemployment, especially within the youth population. Additionally, Croatia proposes that funds should be reappropriated to develop plans through the European Social Fund and the Youth Employment Initiative.