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Recommendations: Raising a country's level of saving is to reduce budget deficits and to change consumption and savings habits. Reduce to utilizing import goods Economies are more towards domestic services and increase wages to support domestic consumption. To reach sustainable level of the Euro zone must reduce its overall debt level by 6.1 trillion European Bank should impose Basel II recommendation with sufficient capital requirement Should have control on Credit Risk. Safe currency against to depreciate its value Reduce the fluctuation in changing the exchange rate. Correcting trade imbalances position Stop using derivatives and off balance sheet transactions.
Reference Links:
http://www.guardian.co.uk/business/debt-crisis http://en.wikipedia.org/wiki/European_sovereign-debt_crisis
The EU Crisis Pocket Guide by the Transnational Institute in English (2012) Italian (2012) Spanish (2011) 2011 Dahrendorf Symposium Changing the Debate on Europe Moving Beyond Conventional Wisdoms 2011 Dahrendorf Symposium Blog Eurostat Statistics Explained: Structure of government debt (October 2011 data) Interactive Map of the Debt Crisis Economist Magazine, 9 February 2011