Tag Archives: PIIGS

Euro on a Roller Coaster Ride

The ongoing euro crisis is a combination of two major factors – high debt and slow growth (GDP). These two factors are interconnected as well as heavily interdependent and the adverse effects on the economy are compounded. In spite of bold and tireless efforts on part of the European union and International Monetary Fund, Ireland, Italy and Spain have reported a negative GDP growth in quarter II 2013.
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