By Panagiotis E. Petrakis, Pantelis C. Kostis, Dionysis G. Valsamis
This ebook offers an summary of the economics and politics applied within the ecu Union and particularly the Eurozone through the concern of 2008-2012. even though it makes a speciality of those 4 years, the research begins from the institution of the eu Union and covers the interval as much as the outbreak of the Cypriot banking concern in mid-2013. The long term construction of structural adjustments in eu economics and politics is linked to a development lag in the international fiscal setting dynamics. the commercial and political outcomes of the predicament and the improvement of recent associations will form the long run progress dynamics in the direction of a Fragmented eu Federation.
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Extra info for European Economics and Politics in the Midst of the Crisis: From the Outbreak of the Crisis to the Fragmented European Federation
Notes: (1) Latest data available: October 2012. (2) Black denotes debtor countries. 7 Sources: aDoing business-The World Bank Groups. bPRS Group (ICRG database) Notes: (1) The division into creditor countries and debtor countries is based on their net foreign asset position. (2) Weighted averages are calculated on the basis of the population of the countries. a Time is recorded in calendar days. This measurement captures the median duration that incorporation lawyers indicate as necessary to complete a procedure, with a minimum follow-up with government agencies and no extra payments.
Only 18 % of the European population has moved outside their local region, and the percentage for cross-border migration is even lower (only 4 % have moved to another EU-27 member state, and less than 3 % have ever moved to another country outside the EU-27). However, there are high short-distance movement percentages. Thirty two percent of Europeans have moved within their town/ city, and 24 % have moved within their country (internal migration). However, since the start of the financial crisis Europeans are more willing to relocate, particularly young, well-qualified workers (Bra¨uninger and Majowski 2011).
2 The Economic Stock Imbalances Economic stock imbalances mainly concern two factors: (a) debt, whether it is public or private, and (b) assets, whether tangible or intangible. 1 Debt: Public and Private European debt traits vary across countries with the most significant distinction being whether it is public or private. These distinctions have played a particularly important role in the way the crisis evolved. 22 % Sources: OECD – Financial Balance Sheets (2010) and author’s own calculations Note: The division into creditor countries and debtor countries is based on their net foreign asset position crisis in Ireland and Spain came from the private sector, particularly housing, while in Greece and Portugal the major cause was the cyclically adjusted structural deficit (Stein 2011).
European Economics and Politics in the Midst of the Crisis: From the Outbreak of the Crisis to the Fragmented European Federation by Panagiotis E. Petrakis, Pantelis C. Kostis, Dionysis G. Valsamis