EU’s Debt Solution

The European Union is trying to cope with its debt crisis by creating more debt. On May 10, the EU released $1 trillion in an attempt to save the euro, especially since there were fears that the debt depression in Greece would start spreading to other indebted countries. This step gave immediate results in the markets, and it recovered the euro to $US1.3. So far, this solution gives confidence to the governments that they would be able to pay off their debts. On the contrary, Song Seng Wun, an economist…

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