Sign In
Ask Question
Geography
Eve David
5 January, 10:48
Spain Italy and Greece are transitioning to a
+2
Answers (
2
)
Willis
5 January, 13:34
0
Spain, Italy and Greece are transitioning into a service economy due to heavy unemployment and trade deficits.
Explanation:
During the recession in 2008, several countries had faced deep economic crisis including Spain, Greece and Italy. These countries had borrowed money from the European Central Bank (ECB). Various reforms were initiated to make up with the debt crisis but on account of the trade barriers, political uncertainties, tepid growth, stagnant labour productivity, inefficient taxation, poor property rights these processes were of futile exercises. Heavy unemployment in these countries are driving the citizens to work under the service sector. Now these countries are on the verge of Bankruptcy and a debt bubble of one trillion Euros on the horizon. A single currency 'euro' for a large ad diversified geographic area makes the monetary policies very challenging to implement and maintain. This has resulted in the poor economic outcomes of the southern European countries like Spain, Italy, Greece, Portuguese.
Comment
Complaint
Link
Zoey Whitaker
5 January, 14:30
0
A service economy
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Get an answer to your question ✅
“Spain Italy and Greece are transitioning to a ...”
in 📙 Geography if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
3 types of deformation?
Answers (2)
You are getting ready to go for a hike on a summer day. You check the barograph and discover that the pressure tendency has been rising for several hours.
Answers (2)
True or false the fed is privately owned
Answers (2)
True or false: migration doesn't really effect population It's just a shifting of people from one place to another
Answers (1)
1 a process by which nutrients are dissolved in a body of water 2 the development of higher than normal salt content in the soil 3 the use of leadership positions for personal gain 4 movement from one place to another 5 isolation from others 6 the
Answers (1)
New Questions in Geography
Which of the following is true about ecosystems?
Answers (1)
1. When governments seek a favorable trade balance, they want A to raise taxes on exports B imports to equal exports C to export more than they import D to import more than they export
Answers (2)
What is the longest street in ontaro
Answers (1)
3) Which of the following may move and cause an earthquake to occur? A: Asthenosphere B: Lithosphere C: Plate D: Mantle
Answers (2)
What statement best describes the relationship between power and authority? A. Authority is a type of power used only in democracies. B. Authority is the ability to use power legitimately. C.
Answers (2)
Home
»
Geography
» Spain Italy and Greece are transitioning to a
Sign In
Sign Up
Forgot Password?