The question of whether the euro zone’s debt should be
mutualized is ironic how those oppose to this topic demand at least some kind
of union other than a political one. In this article the opposing arguer
insists the creation of union among the banks, not the governments. The biggest
problem with any unions is that there is abuse, and in the case of the euro
zone there are problems regarding different liability, interest rates, economic
policies, and lack of central power that has enough authority to speak up to
respective nations. The biggest problems with the convergence of the euro zone’s
debt is that nations with stronger economic status has an extra burden to both
replenish financially fragile nations and maintain the general credibility and
stability of the euro currency. That is why even the debater who proposed this
motion contends that there are several criteria that should be satisfied when
creating such political unions that would distribute the burden. On the other
hand, those opposed argue that banks should receive financial support and help
out weaker banks within their own union. They argue that this brings greater
effect since not only the nations can freely join or drop out of the union but
also sick of bailing out economies out of the boundary.
21 May 2013
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