BBC News - World

Monday, November 14, 2011

Will the European Central Bank save the eurozone? Amy, Shemar, and Alex V.

The European Central Bank was supposed to be the world's most independent central bank. Europe is working nonstop to help rescue banks and over-indebted governments by demanding painful economic reforms. It is now looking quiet obvious that the European Central bank will have to rescue Italy from its debt crisis. Other countries such as France and Spain may soon be following this path. Europe's governments have tried very hard to fix this crisis without the European Central banks help. Most believe that the only way to solve this crisis is to have the involvement of the European Central bank. A large reason why the European Central bank has not intervened is because of the great cultural divide in Europe. While involvement from the European Central bank is necessary, it is certainly not sufficient. As this happens it affects the entire world's economy. Having all these countries in such a crisis only makes it worse for the countries trying to help. With many of them refusing help from outside it makes it difficult to feel like they care about what happens, but you also feel that they do truly need the help and that at some point they will have to accept that.

No comments:

Post a Comment