European Economic Crisis

european

ECONOMIC CRISIS

• The great depression in 1929

• Energy crisis : oil inflation in 1970

• 1981 Recession

• Savings and loan crisis 1987

• Subprime crisis in 2008

• NOW : the Corona crisis

6 major crises

introduction

It could be a stock market crash, a spike in inflation, recession or unemployment, and also a series of bank failures.

Definition

Economic crisis (ɛ - kə - nɑ - mɪk kɹaɪ - sɪs)

PLAN

II. The impacts and solutions to the crisisa. HOW DID THE EUROPEAN CRISIS IMPACT OUR WORLD ?B. the possible solutions to the economic problem

I. why the economic crisis ?a. The european econOmy explainedB. What caused the crisis ?C. The corona pandemic : a new economic challenge

BANKRUPT

Reality

Expectations

VS

Single currency European Central Bank

Inequal wealth distribution:France + Italy + Germany + Spain = 63.8% of EU GDP

of the world's GDP

Before the crisis : EU was the 2nd world economic power

explained

European Economy and institutions :

European Union :Here is what I offer to help with the crisis

The decline of the stock markets caused a 30% drop of the CAC 40

• Difficulties in raising taxes

• Risky loans and lack of appreciation of the risks by the bank

• Modest efforts of the EU to regulate the markets

• No optimal currency zone

• Different political visions of the European Union between the members

Cyclical causes

Structural causes

ThAt caused the decline of the stock markets between july and september 2011.

WHAT CAUSED THE CRISIS ?

Once upon a time...

The Greek debt crisis

Despite this aid

• + 29 000 unemployed people
• Incomes of european households may fall by 5.9% in 2021

Big firms

Medium sized business

Small business

1, 000, 000, 000 euros

Small and medium sized businesses

From : The European Comission

eu'S RESPONSE

thE COVID-19 ISSUE

The world economy shrunk by 4.4 % due to COVID

Countries that exceeded the average debt ratioof the euro zone

Unemployment rate at very high levels

The travel industry really affected

Corona's biggest victim

of the crisis

THE IMPACTS

Common response to every economical issue and solidarity =Fullfillment of the european project

Our opinion :

End of the European Union

Loss of sovereignty (taxes, fiscality)

The loans will be too expensive

End of the common currency

Union of the budget in a EU level

Erase national debt

tHERE ARE 3 MAIN SOLUTIONS

SO, WHAT ARE THE POTENTIAL SOLUTIONS ?

THANKS FOR YOUR ATTENTION ! now let's go inTO break out rooms :AS THE REPRESENTATIVES OF EUROPE, YOUR JOB WILL BE TO DISCUSS THE POTENTIAL SOLUTIONS TO THE CRISIS NOW THAT YOU KNOW EVERYTHING THERE IS TO KNOW.the future of europe is in your hands.

THE END !