Gabe's Presentation

Author: The Economist
Title of Article: Europe´s three great delusions
Publication: The Economist
Date of Article: May 22, 2010

Summary
There is a serious concern in the European Union about the current rescue plan, because this founds can be wasted rather than fix the current problems. This situation could occur by three main causes. First, European countries are attributing all the blame to speculators, rather than check their fiscal vulnerability. Second, they are trust too much in the euro’s rescue rather than fix their weakness. Finally, they don´t think that a deep reform is necessary, which could causes the same problem in the future. In conclusion, there is no a self-criticism in the European countries, which is a big threat for the future development of the Euro Zone.

Issues
What measures the Euro zone is going to take against the main responsible, which is Greece?
What plan the Euro zone is going to apply different to euro’s rescue?
In the Euro zone sustainable in the future?

Opinion
In my opinion, the current rescue plan should be the first of many measures in order to improve the solvency of the financial system in the Euro area. The weakness countries in the Euro area like Greece, Italy and Spain need deep reforms in order to improve their current performance. In this way, this is an opportunity to review all policies and improve all aspect so that the Euro zone can continue in the future.