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Introduction:

The financial crisis has developed into a debt crisis in most South European countries. It has had the most severe impact in Greece, but Spain, Portugal and Italy have all been hit by the crisis in different levels. All western and highly industrialized countries have been exposed to the economic crisis. Europe is still suffering from the crisis, but southern Europe has shown to be, by far, the most vulnerable region. This task is about why especially southern Europe has taken this position, and what to do to get out of it.

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All the southern European countries are members of the Euro-zone, a number of European countries sharing the same current, the Euro. The question here to investigate is why only a part of the Euro-zone has been hit hard by the debt crisis while the rest, with Germany in the lead, seems to get along in a better way. Germany has even had a positive growth rate in the GDP, though small. Germany has been the big loaner to the southern European countries together with IMF and other international investors. The conditions for these loans have been severe cuts in the public sector, social, health and education expenses, privatization programs and a subsequent huge unemployment and negative economic growth. The same kind of conditions exposed to the Third World for many years called structural adjustment programs

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The question here to investigate is, if these massive economic cuts, political changes and subsequent social turbulence and problems were necessary and the only way to solve the crisis. The ones who will pay for this policy, the victims, are the populations in the different southern European countries, though you cannot say they are the ones who have caused the economic problems. A discussion has been if cut downs or investments were the right answer to a crisis like this. Europe has chosen the path of cut downs while USA and Japan make use of investing in a bigger scale. The debt in the two latter countries has the same size as the debt in the southern European countries. The economic growth in USA is bigger than in most European countries.

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The European countries seem to have had a choice in how to get out of the crisis. The question here to investigate is why Europe, mainly the Euro-zone, has chosen to let the people in general pay for this massive crisis, though unemployment, social degradation for many, cut down in welfare in general, and seemingly lack of investing for the future. A development that has created thousands of human tragedies, but can also be the reason for more general social unrest, maybe rebellions

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In Spain the crisis is mainly due to speculations in a housing bobble by the financial institutions, the government is forced to support the financial institutions and borrow money. In Greece also the government has to some extent been manipulating the economy, also to be a member of the Euro-zone, causing a lack of money for both the government and the financial institutions. In all the countries it has been a conglomerate of politicians and the financial market, which have been in the lead of creating this debt crisis, though they would claim it was not possible to foresee it the crisis approaching. The question here to investigate is how it has been possible, or will be possible, for this class of politicians and financial agents to escape their social, economic responsibility and let the people pay the bill. And will the people accept this?

Directive:

The aim and the product of the task are related both to the title, the introduction and the directives.

Read the introduction and the related issues and make clear the overall aim.

Relevant files are added. Use additional sources if you find it beneficial. The origin of additional sources must be noted for control.

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Related issues to include in the product:
1.&nbsp;&nbsp;&nbsp;&nbsp; Illustrate with figures and explanations the current situation for the Southern European 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;societies and their people 
&nbsp; 
2.&nbsp;&nbsp;&nbsp;&nbsp; Give some reasons upon why exactly Southern Europe is hit that hard by the crisis.&nbsp; 
&nbsp; &nbsp; &nbsp; &nbsp;Go briefly through the different countries. An example could the relations between 
&nbsp; &nbsp; &nbsp; &nbsp;the political elite and the financial sector 
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3.&nbsp;&nbsp;&nbsp;&nbsp; Why does the Northern Europe not suffer from the crisis as much as Southern Europe. 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;Consider and give some reasons 
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4.&nbsp;&nbsp;&nbsp;&nbsp; Go through the main arguments for continuing the policies of austerity in Southern 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;Europe and the arguments for stimulating growth instead &ndash; or both 
&nbsp; 
5.&nbsp;&nbsp;&nbsp;&nbsp; Investigate and consider the conditions for people in general in Southern Europe because 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;of the crisis, how they suffer, act and manage 
&nbsp; 
6.&nbsp;&nbsp;&nbsp;&nbsp; How do the rest of Europe, EU, look upon the Southern European crisis, and what do 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;the rest of Europe do to ease of to solve the situation 
&nbsp; 
7.&nbsp;&nbsp;&nbsp;&nbsp; Consider if there alternatives to the present way of handling the debt crisis in Southern 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;Europe and if &ndash; why are they not followed 
&nbsp; 
8.&nbsp;&nbsp;&nbsp;&nbsp; Make a speech for the Core Group and the tutor about the issues above and give your 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;version of what to do with the situation in Southern Europe and the people there 
&nbsp;
Use the files attached
Choose 
 
 
Files: 
 
F1. &nbsp;&nbsp;&nbsp;Crisis Regimes  Crisis regimes and emerging social movements. 
F2. &nbsp;&nbsp;Debt crisis is caused by corruption. 
F3. &nbsp;&nbsp;Denial and Anger in Italy -Southern Europes Immigration Test- Printout - TIME. 
F4. &nbsp;&nbsp;Education Tied to Southern Europes Employment Woes. 
F5. &nbsp;&nbsp;Eurokeynesianism. 
F6. &nbsp;&nbsp;Europe unites in austerity protests against cuts and job losses  Business  The Guardian. 
F7. &nbsp;&nbsp;Europe, Unemployment and Instability  Stratfor. 
F8. &nbsp;&nbsp;europe.debt.crisis.effects, p. 10-14. 
F9. &nbsp;&nbsp;For Most in EU, Life Is Not Improving.&nbsp; 
F10.&nbsp;Goodbye southern Europe Germanys alternative.&nbsp;By: Reporting by Annette 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;Weisbach CNBC.com | Friday, 26 Jul 2013 | 2:44 AM ET 
F11. Goodbye southern Europe Germanys alternative.webarchive. 
F12.&nbsp;Greek austerity is going too far, Charles Dallara warns  World news  The Guardian. 
F13.&nbsp;Greeks Still Most Pessimistic Globally. 
F14.&nbsp;Progress and Backlash in Greece -Southern Europes Immigration Test- Printout - TIME. 
F15.&nbsp;Social impact of the crisis - only tables. 
F16.&nbsp;Solution to the Debt Crisis. 
F17.&nbsp;SOUTHERN EUROPE 
F18. Southern Europes recession threatens North. 
F19.&nbsp;Southern Europes Immigration Test - TIME. 
F20.&nbsp;The Crisis of the European Welfare State. 
F21.&nbsp;The wheels are coming off the whole of southern Europe - Telegraph. 
F22.&nbsp;Wheels coming off - Southern Europe.&nbsp;&nbsp;by Ambrose Evans-Pritchard&nbsp;Read more:

<div style="margin-left: 40px;"><a href="http://www.theage.com.au/business/world-business/wheels-coming-off-southern-europe-20130711-2psa2.html#ixzz2bvvAxslZ">http://www.theage.com.au/business/world-business/wheels-coming-off-southern-europe-20130711-2psa2.html#ixzz2bvvAxslZ</a></div>
F23.&nbsp;Why the debt crisis concentrates in Southern Europe.

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