Digging A Hope Out Of European Debt
Last Updated on Tuesday, 25 September 2012 04:40 Written by Ebiz Tuesday, 25 September 2012 04:40
After a summer hiatus, Europe?s leaders are back to face the gigantic economic crisis of recession. All of Europe?s? 17 countries are in debt. Pay day loans businesses, pawn shops and gold buying shops are seeing a lot of traffic. Europe has been trying to fix the debt problems?with budgeting?for over 3 years and a solution has defied its leaders.
Political and economic leaders from France, Germany and Greece are to meet later on this week to try to end the Eurozone debt crisis. Six of the seventeen countries Greece, Spain, Italy, Cyprus, Portugal and Malta are already in a recession.?Europe?s stumbling economy is hurting the economic recovery all over the world. Europe is the barometer. Europe lost $15.5 trillion which is more than the U.S. ?s output.
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The Eurozone has provided loans to countries such as, Greece, Ireland and Portugal who were defaulting on their debts. Spain and Italy are next in line. Just as in the U.S., unemployment is spreading and payday lenders are unscrupulous
For example: Greece is in its fifth year of recession. Unemployment is at 24%. Greece has been kept afloat by bailouts from its European neighbors and the IMF since May 2010.
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Keeping Your Head Above Water When It Comes To Debt
Spain?s loans amount to over100 billion euros and are still looking to the Eurozone for more help. Spain?s banks have 200 billion euros of toxic assets because of their real estate boom; this situation is so similar to California. Spain is creating a ?bad bank? law to eraser these toxic assets. ?????
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Italy has been racing against the clock to try to put Europe?s third- largest economy back on the path to stabilization. Hopefully all will be better in April with the new government and Mario Monti.
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Well, at least we are not alone in our financial distress.? It appears that everyone in the world is looking for extra money.? The citizens are going to pawn shops and payday lenders to help their economic crisis. A pay day loan will not help the country but it can help the citizens.
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A cash advance or a payday loan is a short term loan of usually $50 to $1000.? The interests, fees and APR is higher on a short term loan but the borrower usually ends up spending less money, to obtain a payday loan, the borrower need to be 18, have a job and an active bank account. There is no credit check. A paydyay loan may not help an entire country out of debt but it can sure help an individual when tough economic times hit. No matter how large or small our budget it, finding some form of debt relief menas taking a closer look at how we handle our finances is important when trying to run a financial program.?
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This entry was posted on Tuesday, September 25th, 2012 at 4:40 pm and is filed under Debt. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Source: http://blog.ebusinessdebtrelief.com/debt/digging-a-hope-out-of-european-debt
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