Economic Crisis- Education
The poor education in Southern Europe is causing a financial crisis in many of its countries, especially Portugal and Italy. The low spending and overall deficient quality of school systems has lead to only 38% of Portugal citizens between the ages of 25-64 to graduate high school, with Italy at 57%. The lack of education along with poor business environments, high corruption, and over regulated markets has lead to the economic turmoil in southern Europe in which the financial growth of many countries are close to stagnation.
The poor education in Southern Europe is causing a financial crisis in many of its countries, especially Portugal and Italy. The low spending and overall deficient quality of school systems has lead to only 38% of Portugal citizens between the ages of 25-64 to graduate high school, with Italy at 57%. The lack of education along with poor business environments, high corruption, and over regulated markets has lead to the economic turmoil in southern Europe in which the financial growth of many countries are close to stagnation.
Brexit
Numerous Southern Europe countries will experience financial risk due to the UK’s exit from the EU because of their high levels of debt and unstable governments. The general elections of Spain that shortly follows Brexit will probably lead to a fragmented parliament, therefore causing political instability. Strong euroscepticism will sweep throughout the region if the UK proves to be able to endure being independent from the EU, this will cause countries, especially with large economies, like Italy, to become anti-EU.
Numerous Southern Europe countries will experience financial risk due to the UK’s exit from the EU because of their high levels of debt and unstable governments. The general elections of Spain that shortly follows Brexit will probably lead to a fragmented parliament, therefore causing political instability. Strong euroscepticism will sweep throughout the region if the UK proves to be able to endure being independent from the EU, this will cause countries, especially with large economies, like Italy, to become anti-EU.
Uneasy Recovery
The Great Recession of 2008-2009 has left Europe scrambling to recover with little to no avail. The GDP growth is a merely 0.3%, the value of the euro has dropped to its lowest point in nine years, and there is high amount of unemployment and tax. Unemployment is particularly extreme in Greece, where it is around 25%, public debt has also exceeded more than 175% of Greece’s GDP. The immense debt of Greece and Spain at the beginning of the global recession foretells deterioration of the eurozone.
Conflict Over Immigration
The large influx of immigrants from African and Middle Eastern countries is a subject of economic contention. Some believe their labor will be a large boost to the economy, whereas others think that the immigrants will drag the economy down through use of social services. Some European countries are experiencing labor deficits and need immigrants to fill job positions, but others, such as Greece, believe that there are too many immigrants to be supported by already weak economies. Weighing the economic benefits and drawbacks of letting in certain quotas of immigrants is hugely important in many European countries’ policymaking.
The Great Recession of 2008-2009 has left Europe scrambling to recover with little to no avail. The GDP growth is a merely 0.3%, the value of the euro has dropped to its lowest point in nine years, and there is high amount of unemployment and tax. Unemployment is particularly extreme in Greece, where it is around 25%, public debt has also exceeded more than 175% of Greece’s GDP. The immense debt of Greece and Spain at the beginning of the global recession foretells deterioration of the eurozone.
Conflict Over Immigration
The large influx of immigrants from African and Middle Eastern countries is a subject of economic contention. Some believe their labor will be a large boost to the economy, whereas others think that the immigrants will drag the economy down through use of social services. Some European countries are experiencing labor deficits and need immigrants to fill job positions, but others, such as Greece, believe that there are too many immigrants to be supported by already weak economies. Weighing the economic benefits and drawbacks of letting in certain quotas of immigrants is hugely important in many European countries’ policymaking.