While the industry of boilers and boiler servicing companies have been experiencing a growth and national economies have been advancing, Europe still has not moved on from the quicksand of economic crisis it experienced.
What the IMF has to say
The International Monetary Fund has finally commented and talked sense out regarding the deficit economies within the Eurozone members. In their new analysis with the wide scale crisis in the region with regards to the single currency policy, the IMF concluded that the situation will remain to be hopeless unless it will sort the macro-economic policies inside the Eurozone- fiscal as well as monetary. This certain suggestion is not anymore new and was even rejected by those in power in Berlin. If nothing is done on the macro level, the economies of Greece, Italy, Spain, Portugal and Ireland will continue to suffer.
There are various additional adjustments that have to be made in order to achieve both objectives of restoring internal and external balance. The economies have to regain a high and sustainable growth in order to cut off unemployment rates down to acceptable levels.
Under the current projections made, it will take a considerably long period of time for the imbalances to correct in itself before the suffering economies get a sustainable footing once more. This is a conclusion in contrast to the deadly lie propagated by the policymakers in the eurozone that the crisis is largely over.
People should be aware that the relative prices adjustments in the zone have preceded at a glacial speed to the extent that real exchange rate were adjusted through reduced per unit labor costs.
Exports have rebounded for the dire nations. However, this trend has not really been matched with a strong demand.
How do you solve this euro crisis that has been worsening through the years? It is quite obvious- revamp the macroeconomic policies in the region in order to support the demand and consequently bring the inflation rate below or close to 2 percent. Reforms on price stability should also be analyzed and balance sheets of banks have to be evaluated and take action where necessary.