2. Index
1. The problem
2. The problem countries
3. The cutbacks
4. The European solutions
5. Conclusion
Maarten Thomas 2
3. The problem
Economic recession
Growing government deficit & national debt
Financial problems Greece
Lower appreciation Euro
Maarten Thomas 3
4. The problem countries
Portugal
Italy
Ireland
Greece
Spain
Maarten Thomas 4
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
Maarten Thomas 5
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
Maarten Thomas 6
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
Maarten Thomas 7
8. Conclusion
Outlook is gloomy
Last wake-up call
Determined action is needed
Maarten Thomas 8