Marketing assignment on: economic, political and social issues faced by Europeans

Identify, examine and analyze the key economic, political and social issues faced by Europe at the present time.Europe is one of the seven continents of the world. It is the birthplace of the western culture. It has been playing a very major role in the global affairs since the 15^th century especially after colonialism. Recently Europe was in news due to the very famous European crisis. The country where we have concentrated is Romania. There have been a lot many issues in the country. This report is to highlight the economic, political and social issues that have been faced by the continent.

Economic Issues

The European Sovereign Debt Crisis is the financial crisis which made things impossible or difficult for some countries in the Europe Region to pay back their debt that is was given to the government without taking the help of any third party. This all started in 2009 when the fear that this would happen started developing. The people were bothered because the level of debt started rising all over the world and there was a wave of downgrading of the debt given by the government in some of the states in Europe. The causes differed from country to country. This started with Greece initially where situations began taking a bad face. The debt increased in Greece because the public sector wage was not sustainable and there were commitments of pension. The concern grew when in the year 2010 the finance minister of Europe decided to approve a kind of rescue package which was around €750 billion. This would ensure the financial stability as the European Financial Stability Facility was created. The Eurozone leaders kept on increasing the price of the rescue package and thus this made it more and more difficult for the economy. This crisis was a result of various factors that were really complex. These causes were like the globalization of Finance, the easy availability of credit, the global recession, and many others. As around 2002-2008, people were able to get credit easily the risk of lending became high. The crisis came into existence because there was a major increment in the savings which was available for investment. This happened during 2000-2007. At that time the global pool of the securities of the fixed income increased from $36 trillion in the year 2000 to about $70 trillion in the year 2007. The pool of money increased when the savings from the countries that were growing highly entered into the global markets. The investors who have investing the treasury binds offered by the US started looking for other alternatives where they could invest their savings and earn money. This temptation did it all as the savings that were available readily overwhelmed the policy and the regulatory mechanisms in different countries. The lenders and the borrowers started putting these savings into use and thus generated a bubble which kept on generating other bubbles across the world. At that point of time the people were very happy but they did not realize that when the bubble will burst than there will such an adverse effect which will not only drown the home country but also many other countries all over the world. The prices of the household and property declined and the liabilities remained at the same price. All of this put forward questions that doubted the solvency and the integrity of the government and their banking systems. There was an interconnection in the global financing system which meant that if a nation defaults on its own sovereign debt or enters into a condition of recession where they put some of their private debt at risk the banking system of the creditor faces losses. Thus a lot of the countries came into the loop and thus there was loss of income, loss of employment and there was lack of money. Many companies were forced to close down due to this as they did not get the finance on time and thus they were not able to survive the bad time. (The Guardian 2012) Every company was dependent on the finances and due to this uncertainty, many others decided not to give money in the market and thus it was difficult for small and even big companies to survive. There was also a loss of confidence in the market. There were almost 18.49 million were out of work as the economy had weakened. People did not want to enter in trade with the European countries for a long time as they had lost confidence in them. They people who had invested their money were repenting because they will never get back that money. There were austerity packages but all of this could not help. The main countries where the effect was the most was Ireland, Portugal, Spain, and Italy and also had effects on Switzerland. Romania and other countries like Hungary, Czech, Poland, republic and others were said to have faced a very sharp depreciation in their currencies and a reduction in the appetite of the investors. It was important to analyze that there are certain reforms that were implemented in the structural policies so that the global recession is avoided. It is decided that all the Euro countries that they will fight against this crisis by implementing a rescue plan in which EUR 2000 billion will be allocated from the budget funds. (Gheorghe Zaman and George Georgescu 2009)This European crisis has taken many countries into its clutch and almost these countries into another recession. This also exposed rifts between regions. It had become very tough for the other countries as well to survive and to sustain as many companies were closed and there were no or less chances for them to recover. The main person who should be appreciated should be the new president of the European Central Bank, Mario Draghi, where he lowered down the interest rate and opened the coffers of the bank at easy terms so that people got air to breathe. He also introduced a framework where the troubled bonds of the Eurozone were sold and could be purchased without any limits. He did this to stabilize the rate of interest which was threatening the solvency of the countries like Spain and Italy. By doing this he pulled the bank as the lender of the last resort the position which has been held by the Federal Reserve since long. (NY Times 2012) The European crisis was a remarkable one especially for those who lost all their savings in it. The impact of the crisis is still there and many nations are striving hard to come out of the aftermaths of this unwanted situation.Social Issues

There are social issues in almost every country and there are issues that are faced by Romania as well. It is said that a citizen has certain fundamental rights and he is entitled to those rights. Unfortunately there are some who are deprived of these rights. The only problem is that the rich are becoming richer and the poor are becoming poorer. The European crisis has not been less than a tsunami for not only the people of the continent but also other countries all around the globe. It is said in every country that they are working toward equalizing each and every clan than is living in the country but there are still people who are left to live on their own. There is a European marginalized ethnic minority which has not been given what is their rightfully theirs. There has been no improvement in their living conditions. There has been promotions and awareness amongst people about the Roma people and the initiative that will be taken to improve their conditions but nothing has been done till now. (Nuke young 2012) According to a recent survey there are almost 84000 households in the eleven countries across the whole of Europe. They found that only 15% of the people of the Roma clan had the access to the educational facilities when compared to the remaining population. There were people who live without a shower, electricity, and kitchen. The people hate the Roma people and though it has been tried to control the hate crimes but they still exist there very much. It was requested from the policy makers to pay more attention on the people of the Roma who are looking for jobs, to provide educational facilities to the young Roma people. It was also requested from them to concentrate on the health conditions of this clan as they were deprived of the nutritional food and medication. It was discussed that it is very important to bridge the gap between the Roma and the non Roma’s. This could be done only if the national strategies will be implemented effectively. It is important for the Roma children to complete their education so that they are ready to look for jobs. It is important to concentrate on brushing the skills of the Roma Children who have completed their studies and are now looking for job. Other than this it is also important to concentrate on the daily household needs of the people so that atleast those can be provided to them. It was decided by the Agency of the Fundamental Rights that there will be surveys done twice every year so that a close check is kept so as to confirm the improvements that are taking place in the standard of living of the Roma’s. There is a need to highlight the point that the discrimination should be eradicated and the people of Roma should be made aware of their fundamental rights. People who are Romani were found complaining that even if they get a chance to study, then they are discriminated and they are not allowed to attend schools and thus they are not able to complete their education. They are treated badly and due to the extreme poverty situation they are out casted. They do not have good clothes and books and hence the people find them inferior and also make fun of them. They are treated like slaves and are made to feel that they do not deserve to have what they think belong to them rightfully. The only problem is that the rich are becoming richer and the poor are becoming poorer. The European crisis has not been less than a tsunami for not only the people of the continent but also other countries all around the globe. It is said in every country that they are working toward equalizing each and every clan than is living in the country but there are still people who are left to live on their own. It was also noticed that nobody highlights that these people are beaten and that if they anything against the better off people then they are killed or their houses are burnt in front of them. All of this not only shatters their confidence but also gives birth to the feeling of revenge and hatred which is not good for any economy. The people lose confidence and they may revolt or try to harm the other person. This will lead to fights and loss of life and property. That is why it is also said that the Roma’s commit more crimes than others. (Economist 2012) The main reason is that they are treated badly and insulted in front of many people. The current condition of the continent has now improved a bit due to the European crisis. It is high time that the economy does something about this as well else it might be too late. It should be requested from the policy makers to pay more attention on the people of the Roma who are looking for jobs, to provide educational facilities to the young Roma people. It should also be requested from them to concentrate on the health conditions of this clan as they were deprived of the nutritional food and medication. It has been a concern that people have to be treated equally and the word discrimination should be deleted from the dictionary of mankind. The increasing poverty also results in making people lose faith in themselves and thus they might either end their life or commit a crime. The youth should be made ware and their participation should be asked so that they can help the marginalized clan to also have the right to study with the other people and the right o work with the others. They should not be treated differently and efforts should be taken to control issues like racism. It was discussed that it is very important to bridge the gap between the Roma and the non Roma’s. This could be done only if the national strategies will be implemented effectively. It is important for the Roma children to complete their education so that they are ready to look for jobs. It is important to concentrate on brushing the skills of the Roma Children who have completed their studies and are now looking for job. Other than this it is also important to concentrate on the daily household needs of the people so that atleast those can be provided to them. (Economist 2012)

Political IssuesThere are a lot many political issues in every country and there are many major issues in Romania which have to be handled immediately. There is Human Trafficking whether it is sexual or labor and these problems need to be eradicated. These problems seem to be as social issues but actually they are political as the government is at the end responsible for improving these issues. There is a lot of involvement of the political bodies in all of this and thus this issue is now political. It is not just this issue there are many others. It was the talk of the country when it was seen that the Romanian Minister was charged against corruption and he tried to kill himself. He was charged against corruption and fooling the government. It was also stated that he just showed that he killed himself and faked his suicidal attempts but what he did was in front of everyone. It was this mister that was caught and the fact cannot be ignored that there are many others like him. Today Adrain Nastase is in gaol and he is being treated just like any other prisoner. This has also revealed that the polarization of the Romania’s politics and the dysfunction of the politics. It can be thought that now the European leaders are not in the mood to take out the roots of corruption. Corruption is the growing problem and the problem cannot be removed. There were more than 4700 people who were charged against corruption in which fifteen ministers were included, twenty three members of the parliament and almost five hundred police officers. It is very difficult for the nation to believe that the problem is not eradicated.

Conclusion

These issues need to be resolved and taken into consideration because these issues are really important and the resolving of these issues will definitely lead to peace in the continent. All these issues are to be handled as soon as possible because this is the need of the hour. The European crisis was a remarkable one especially for those who lost all their savings in it. The impact of the crisis is still there and many nations are striving hard to come out of the aftermaths of this unwanted situation. There is a need to highlight the point that the discrimination should be eradicated and the people of Roma should be made aware of their fundamental rights. People who are Romani were found complaining that even if they get a chance to study, then they are discriminated and they are not allowed to attend schools and thus they are not able to complete their education. They are treated badly and due to the extreme poverty situation they are out casted. They do not have good clothes and books and hence the people find them inferior and also make fun of them. They are treated like slaves and are made to feel that they do not deserve to have what they think belong to them rightfully. The only problem is that the rich are becoming richer and the poor are becoming poorer. The European crisis has not been less than a tsunami for not only the people of the continent but also other countries all around the globe. It is said in every country that they are working toward equalizing each and every clan than is living in the country but there are still people who are left to live on their own. Corruption is the growing problem and the problem cannot be removed. These issues need to be resolved and taken into consideration because these issues are really important and the resolving of these issues will definitely lead to peace in the country and subsequently in the whole of the continent and the world.

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