The problem The problem countries The cutbacks The European solutions

1. Maarten Thomas

2. Index

1. The problem
2. The problem countries
3. The cutbacks
4. The European solutions
5. Conclusion
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3. The problem

 Economic recession
 Growing government deficit & national debt
 Financial problems Greece
 Lower appreciation Euro
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4. The problem countries

 Portugal
 Italy
 Ireland
 Greece
 Spain
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5. The cutbacks

 Necessary to repair confidence
 European supervision required
 Critical point:
 They hit the ordinary citizen
 Could slow down economic recovery
 Businesses get less government tasks
 Decreasing purchasing power
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6. The European solutions

 The European Stability & Growth Pact
 Maximum government deficit
 The European Financial Stability Facility
 Temporary need fund  permanent need fund
 Plan Merkel & Sarkozy
 Tighten up supervision
 Punishing
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7. The European solutions

 New measurements
 Part of Greeks debt acquitted
 Need fund needs to grow
 Supervison of the government finances will be
tightened up
 Banks must keep more money in cash
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8. Conclusion

 Outlook is gloomy
 Last wake-up call
 Determined action is needed
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