ARTICLE INFORMATION

Article Information

Article Information

Title of N.Y. Times article: Euro Zone Crisis Boils as Leaders Argue, Failing at Pact.

Date article was published: 23/05/2012

1. Three main idea(s) expressed in the article:

a. The economic crisis from which all the European countries suffered especially after the withdrawal of Greece membership from European Union

b. The difference in the views that Germany, France and Holland, Italy, Spain had among each other to solve the economic problems.

c. All the countries had a view including Germany and Holland that they must provide assistance to Greece in helping them to recover from economic problem.

2. Briefly describe issue(s) surrounding the controversy (minimum of 250 words):

Ans2- The issue of the Greece withdrawal from Membership in the euro zone has created a lot of instability in the European Markets and the fears of bank insolvency have also intensified in the recent past. This has once again resulted in Euro crisis and the economic growth is even under threat of having a fragile position in the upcoming months. The summit meeting took place on Wednesday (23rd May) where the regional leaders in the European region failed to reach any decision on tackling the current economic problems. The President of Holland suggested some aggressive measures in tackling the economic problems faced by the region but the German Chancellor opposed this suggestion. However, the solution is desperately required under present conditions because all the European countries are sliding towards recession. For instance, Spain and Italy are facing severe economic crisis in the country because of the high borrowing cost and weakening state of the Banks. The finance ministers met on Monday (21/05/12) to discuss the possible solutions for the uncertain economic conditions which arose after the latest development of Greece's withdrawal from the Euro Zone Membership. The major thaw in the revival of the economic conditions in the European countries is the conflict of interest between Germany and other countries. The European countries such as Holland, Italy and Spain have a different observation to find out the solution to the economic problem but Germany along with France has different views for the problem. Under such circumstances, the countries will need to find a common ground in order to resolve the current economic problems faced by whole region.

3. In what way(s) did this article broaden your perspective? (Minimum of 250 words):

Ans3. There are several ways through which the perspective on this article got broadened. First of all, one thing that is quite clear, that the European countries faced a dilemma of resolving the economic problems that affected the entire region. The concerns further got worsened when news related to Greece withdrawal from the membership of the European Union circulated throughout the whole region. The meetings and conferences were conducted as a result but there was not a consensus on any decision to solve the problems related to economic crisis. In the later stage, Germany decided to assist Greece in recovering from the financial problem that affected them very ...