Galbraith: EU Unable to Manage the Crisis in Eastern Europe
The noted economist James Galbraith said that the European Union is hampered by an inability to manage the crisis that hit the states of Eastern Europe.
“Hungary had to accept a loan from the International Monetary Fund, while it should have been helped by Europe. It’s a big problem for the European institutions”, the analyst noted.
At the same time, he insisted that it is abnormal, that bank errors to be supported by taxpayers, the more so as America, for example, there are too many banks.
Two thirds of the population of the 23 largest economies of the world believes that the massive government spending developed to combat financial crisis have lack of clear direction.
The study, conducted by market research and survey public Ipsos in 23 countries representing 75% of the world economy, also revealed 60% of the citizens of these states provide a slowdown of economic growth, because of legislation designed to strengthen governments in crisis.