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nd. In 2010,Greece's social welfare spending as a share of GDP is 20.6%, and social welfare in the government expenditure proportion is as high as 41.6%. In the long run, if you don't to change the welfare system, economic assimilation differentiation, welfare, the overall social burden is heavy, contradictions will increasingly prominent, such as all kinds of crisis also will continue to appear.

The future ofEurope's debt crisis

The future development of the euro zone debt crisis mainly has three general direction.

First, the countries to provide relief to the crisis, delay the outbreak of the crisis. Continued volatility in the market and all kinds of political pressure, under the condition of states and the European central bank kept negotiation and compromise, and constantly introduce scattered, short-term, rescue plan for the specific problem. If the situation stable gradually, gradually from all countries to establish a long-term stable mechanism. In the short term, specific measures may include: do some coordination on tax policy; For high-deficit countries continue to pressure to improve financial situation; Increase the amount of the European financial stability fund; The European central bank increased purchase of eurozone bonds; Seek further international support, etc. The development of this direction also lurks a lot of risk. Such as the German parliament on September 29, 2011, approved the European financial stability fund;Italy,Greece, change of government, cutting the deficit in the political pressure. The fundamental problem is that the current bailout only provide liquidity to the debt crisis countries, these countries' solvency did not improve, has become a big probability event of default in the future.

Second, the crisis countries such asGreece, set up the core zone. This is one of the most pessimistic conclusion. The main option is to can't meet the conditions of euro-area countries such asGreeceout of the euro zone, or byGermany,France, and north-westernEuropesome fiscal situation is good country form a core of the euro. Often think this is unlikely. First,Greecefrom the euro zone without access to relevant legal basis. TheLisbontreaty without authorization in the euro area can be a member from any member out only by the members themselves. The current debt crisis countries such asGreecewon't volunteered to quit, because that would mean the initiative to give up the chance of foreign aid. Secondly, exit the weak is likely to default on its debt, it will indirectly affect all countries, especially the impact of Banks and financial system, the consequences are uncontrolled. Once again, stronger currencies will rise significantly, export and economic growth will be imMediately affected by the negative impact of currency appreciation. Finally, the core of the politicians don't choose such a solution, because it will make efforts to European countries for decades to build community fire.

Third, the euro zone together make a strong commitment, through the issuance of 'euro bonds' jointly shoulder the debt, and set about establishing a common currency, unified financial mechanism of federalism. This is the most optimistic one possibility, but hope remains elusive. The advantage is countries to coordinate monetary and fiscal policy; Investor confidence can be本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。