1. Financial Crisis: Financial Crisis is a major concern in Southern Europe that is cause by the country and its people not paying the government which leads to less job opportunities and more taxes.
2. Under Debt: Greece and Portugal are in massive debts which they owe to the European Union. This causes lower wages.
3. Banks Closing Down: A lot of banks are closing down due to the poor economy and it causes people to loose their money.
2. Under Debt: Greece and Portugal are in massive debts which they owe to the European Union. This causes lower wages.
3. Banks Closing Down: A lot of banks are closing down due to the poor economy and it causes people to loose their money.
the european union (eu)
The European Union is an economic and political union of 28 countries that reside in Europe. On June 23,2016 a huge country in the EU,Britain,decided to leave the union.Most people in Britain didn't like the choice to leave the union,there will be tons of people moving from Britain to ther countries i;e (Italy,Spain,Portugal,etc.)Another thing to know about the Union is that the countries that are apart of it are under an agreement where they trade with eachother.The Brexit could cause a huge decline in profits.But there is good to come from the Brexit.Countries in Europe like Greece are not competitive,with Britain now being gone and all of the resources that come from it,Greece can step it up and become a more competitive country.
http://www.telegraph.co.uk/news/2016/06/20/what-is-the-eu-why-was-it-created-and-when-was-it-formed1/
http://www.theweek.co.uk/brexit-0
http://www.telegraph.co.uk/news/2016/06/20/what-is-the-eu-why-was-it-created-and-when-was-it-formed1/
http://www.theweek.co.uk/brexit-0
http://ec.europa.eu/economy_finance/eu/forecasts/2016_winter/employment_growth.png