The European debt crisis is the shorthand term for Europe’s struggle to pay the debts it has built up in recent decades. Five of the region’s countries – Greece, Portugal, Ireland, Italy, and Spain – have, to varying degrees, failed to generate enough economic growth to make their ability to pay back the debt they had incurred upon themselves as a method to take their GDP to newer heights. The crisis has far-reaching consequences that extend beyond their borders to the world as a whole.
The advantage of being a developed country is that you can borrow at a lower rate to boost your economy. The debt that you borrow to supplement your GDP is a good debt but the debt that you cannot repay is a real bad debt. That is what happened with Greece. The Greek state is nearing defaulting on its foreign liabilities, and is running out of euros for domestic expenses. This debt crisis has forced European countries to perform worse than their global counterparts and hence needs to be addressed immediately!
Presenting the brand new event of CONSORTIUM 2013, ‘ EUROCRISIS‘ which gives all you economists and managers a platform to model yourself as the troubled European countries, part of the European Union and present your personally customized ideas of waiving out of this debt crisis, handling it your way! This January get geared up to be the French (Etienne Philippe), German (Temple Peter) or Finnish (Store Jan) or any other EU country representative and take the debt crisis bull by its horns only at CONSORTIUM 2013.