Question of the day findings: The economy in Europe
by Kate Davies in Have Your Say
Fri July 13, 12:39 p.m. PDT
With the recent G20 meeting held in Mexico, the decision by European central banks to slash interest rates, and the ongoing debates about the future of the Euro and the best way to reduce deficits, we thought we’d throw the question open to our panelists. Out of Europe, Latin America, North America and Asia, which region did our respondents think had the weakest economy and why? And what, from their perspective, needs to be done to solve that region’s problems?
Though respondents were far from unanimous when it came to deciding which region had the weakest economy, most, citing ongoing news reports about its debt and the future of its currency, suggested that the weakest economic region was Europe. Interestingly, when asked to explain what they thought needed to happen to improve the situation there, there was some difference of opinion as to whether more stringent austerity measures or increased public spending was the correct way to overcome current problems. Most suggested Europe needed to tighten its belt, but some argued that people needed to start spending to kick-start European economies.
Interestingly, some respondents linked their proposed resolution of Europe’s problems to the situation in the U.S., suggesting an implicit acknowledgement that the U.S. was traveling down the same fiscal road as Europe. These respondents argued that potential solutions applied to Europe should also be applied here, indicating a fear that without global leaders taking decisive action, the U.S. was still in a vulnerable position economically.
(Click on each argument, below, to see more quotes.)